India–Russia Business Forum Charts New Path For Stronger Textile Trade Ties
Union Minister of Commerce & Industry, Piyush Goyal, placed a strong spotlight on the textile sector as a priority area for India–Russia cooperation, during the India–Russia Business Forum held in New Delhi. Confirming that Russia has always been ‘India’s Sukh Dukh Ka Saathi,’ he highlighted that textiles, along with automobiles, electronics and machinery represent one of the biggest opportunities to deepen and diversify India’s export presence in the Russian market.
With bilateral trade already touching US$ 70 billion, Goyal called for a more balanced and diversified trade basket, stressing that Indian textiles, apparel, home textiles, technical textiles and value-added fabric segments hold exceptional potential in Russia. He noted that Russia’s strong demand for affordable, reliable and high-quality textile products aligns well with India’s strengths in scale, craftsmanship and versatility.
The Forum, themed ‘Sell to Russia, brought together senior officials including N. S. Rao, Secretary, Ministry of Textiles, alongside ministers and business leaders from both countries. Sectoral discussions highlighted opportunities in man-made fibres, knitwear, home textiles, technical textiles, industrial fabrics, and textile machinery, where both sides see scope for rapid expansion.
Russian Deputy Chief of Staff Maxim Oreshkin pointed out that India’s share in Russia’s imports remains below 2%, calling this “immense untapped potential.” He emphasised that consumer goods including textiles and apparel, could help propel trade volumes past US$ 100 billion by 2030, supported by stronger Indian participation.
Goyal reiterated that Indian textiles can play a pivotal role in correcting the current trade imbalance. He highlighted India’s globally competitive spinning, weaving and garmenting ecosystem, complemented by the country’s young skilled workforce and fast-growing technical textiles industry. He also noted that India’s strong startup ecosystem is driving innovation in smart textiles, sustainability and advanced materials, areas that align with Russia’s long-term requirements.
Leaders from both nations agreed to work toward reducing trade barriers, enabling smoother market access for Indian textile exporters, enhancing logistics connectivity and pursuing joint investments in textile manufacturing and technology.
The Business Forum concluded with a clear message, textiles will be a key driver of the next phase of India–Russia economic cooperation, offering vast opportunities for Indian manufacturers and exporters as the two nations push toward a more balanced, resilient and future-ready trade partnership.
