Commerce Minister Piyush Goyal called for a structural rebalancing of India-Russia trade, urging both nations to raise bilateral trade to $100 billion and two-way investments to $50 billion by 2030. India’s current trade deficit remains heavily skewed, with $55 billion of the total $60 billion trade volume accounted for by Russian crude oil imports. To reduce payment friction caused by Western financial sanctions, both sides are fast-tracking a new Bilateral Investment Treaty and expanding local currency settlement mechanisms alongside an early conclusion of the India-EAEU Free Trade Agreement. Meanwhile, heading into the 18th BRICS Summit in New Delhi, Indian exporters and global economic experts are pressing the 11-member bloc to transition from political consensus to actionable commercial frameworks. Businesses are advocating for the reduction of non-tariff barriers, mutual recognition of standards, digital trade documentation, and faster customs procedures. Economists also emphasize expanding central bank settlement systems to deepen financial connectivity and integrate Indian businesses into broader emerging production networks.