The negotiating team from India is likely to visit Russia in February for the second round of Eurasian Economic Union Free Trade Agreement (EAEU FTA) after the Union Budget 2026, confirmed a source from the Ministry of Commerce, aware of the matter. While Russia has already relaxed some of the import requirements for the Indian exports, one of the major focus of the discussions will be around the non-tariff barriers for Indian exporters, said the source.
“Maybe in end of February after the budget session, (we will go) for the second round. We will constantly pursue that till that time we are not confident of the NTBs (non-tariff barriers),” said the official.
Currently, Russia has relaxed a lot of import restrictions on the Indian marine products. As highlighted by the official, Indian exporters often struggle as there are separate set of Eurasian standards and a separate set of Russian standards for the imports. “Some products have European Commission standards, some products have Russian standards and our exporters don't know which standard will be used on which product,” said the official.
Additionally, often the importers demand that the packaging should also be in Russian and the leaflet should also be in Russian. However, the Indian exporters struggle as a lot of these regulations are not even translated and the Indian exporters fail to understand the exact requirements.
As India negotiates the trade agreement, one of their major demands is also to ensure to have all the details of their regulations translated, so that the Indian exporters can cater to them properly.
India is actively negotiating a FTA with the Eurasian Economic Union (EAEU) (Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan) to boost exports, diversify markets, enhance energy security In terms of oil and gas access, alongside improving connectivity and reduce dependence on Western markets. The formal talks kick started in late 2025 after signing Terms of Reference. India is primarily trying to have a better market access in Russia to address the skewed trade balance between the two countries.
After Russian President Vladimir Putin’s visit to India in first week of December, both the countries exchanged sixteen agreements in areas related to defence, trade, economy, healthcare, academics, culture and media. Russia even identified six sectors — including consumer goods, pharmaceuticals, and telecom equipment — where Indian companies can expand their presence in the Russian market.