New Delhi, Sept. 10 -- Union Commerce and Industry Minister Piyush Goyal on Thursday said India-Russia economic ties must move "from protocols to production, from trade to industry", with both countries working towards ambitious targets of USD 100 billion in bilateral trade and USD 50 billion in two-way investment by 2030.

Addressing the India-Russia Business Forum 2026 at Bharat Mandapam in the presence of Russian Minister of Industry and Trade Anton Alikhanov, Goyal said bilateral trade has reached around USD 60 billion but needs greater diversification and stronger participation of Indian MSMEs.

He said, "Increasing bilateral trade from the current base of around USD 60 billion to USD 100 billion would require adding about USD 40 bil...