The Russian Foreign Trade Academy and the legal consulting firm LexGuard LLC have conducted a study on the prospects of creating the EAEU-India Free Trade Area.

The study assessed the impact of trade in goods liberalization between the Eurasian Economic Union (EAEU) and the Republic of India on Russia-India bilateral trade.
The study

• Explores the prospects of creating the EAEU-India Free Trade Area,
• Estimates the economic impact of the potential integration project,
• Proposes the legal basis for such an agreement.

• Russia-India mutual trade accounts for the bulk of the EAEU trade with India,
• The reorientation of Russian foreign trade in recent years has become a key driver of growth in Russia-India bilateral trade.
• Trade in goods between Russia and India almost doubled in 2023. This positive trend continued in early 2024. The leaders of the two countries have set a new goal for the bilateral trade, aiming to achieve a 1.5-fold increase by 2030.
• The dialogue on creating a preferential trade regime between the EAEU and India intensified in 2023-24.
• Growing trade creates new incentives to eliminate trade barriers in order to develop and diversify bilateral trade flows.