Jaishankar Urges Russian Firms to Deepen Ties with India Amid Trump Tariffs

• EAM S. Jaishankar in Moscow urged Russian firms to step up partnerships with Indian enterprises amid U.S. tariff pressure on Indian imports.
• India & Eurasian Economic Union launched FTA talks, strengthening trade ties with Russia-led economies as a counter to Western policies.
• Russia offered to absorb Indian exports hit by U.S. tariffs, with envoy Roman Babushkin reaffirming energy and trade cooperation.

India's External Affairs Minister S. Jaishankar, addressing in Moscow on August 21, 2025, called on Russian firms to accelerate their partnership with Indian enterprises while U.S. President Donald Trump has been slapping high tariffs on Indian imports. While the U.S. imposes 50 percent duties fifty of them punitive steps against India's imports of oil from Russia Jaishankar advocated fresh economic engagement to counter pressure from changing Western trade policies.

Jaishankar emphasized India's growing economy and policy efforts such as 'Make in India' as powerful invitations for Russian businesses. "A USD 4 trillion plus GDP India that's going to grow at 7 percent for the long term has a clear requirement for big resources from reliable sources", he averred.

He cited that stable sources of critical commodities like fertilisers, chemicals, and machines present great opportunities, while India's fast-developing infrastructure provides opportunities for companies with good credentials.

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He emphasized that whereas India and Russia have enjoyed one of the most stable international relationships, such stability has not always been matched by robust economic cooperation. Trade volumes have picked up over the last few years, but so has trade deficit, highlighting the imperative of both diversification and balance. "Both the balancing and diversification of trade now urgently require more intensive efforts on our part. At the end of the day, they are essential not just to reach higher trade targets but even to sustain the existing levels”, Jaishankar urged.

On the same day, India and the Eurasian Economic Union agreed on terms of reference to initiate Free Trade Agreement talks a step meant to further relations with Russia-led economies in retaliation against U.S. tariffs. Also, a senior Russian envoy, Roman Babushkin, indicated Russia is prepared to absorb Indian exports hit by American tariffs, presenting himself as a friendly trade partner and cementing energy relations.