The push for deeper economic engagement between India and Russia is at the heart of the second Russia-India TIME Business Forum that opened in Kazan on Thursday.
The results of the effort, kickstarted when Russian President Vladimir Putin visited New Delhi in December, are already visible in Kazan, capital of the Republic of Tatarstan. India’s trade with the Russian region is surging, and exceeded $1.09 billion in the first six months of the year – a more than ninefold rise from the same period a year ago. The figure also surpasses the roughly $400 million recorded for all of 2025, according to regional authorities.
Both countries are seeking to expand joint manufacturing and investment projects by capitalizing on this momentum.
India’s ambassador to Russia, Vinay Kumar, said relations with the Russian region have been on a positive trajectory since Indian Prime Minister Narendra Modi visited Kazan for the BRICS summit in 2024. He noted the growing trade, the higher number of Indian students and businesses in the region, and the opening of an Indian consulate in Kazan.
“Tatarstan offers opportunities in trade and investment,” Kumar said, adding “mutuality of interest between India and Tatarstan to take the relationship forward is giving an impetus not only to regional ties but also India-Russia relations.”
Following negotiations at the INNOPROM.India exhibition in New Delhi last month, Tatarstan’s investment agency signed cooperation agreements with Indian companies working in artificial intelligence, cybersecurity, biotechnology, and pharmaceuticals.
The discussions mark a shift “from general declarations to substantive negotiations” on production and joint ventures, Tatarstan Investment Development Agency chief Taliya Minullina said ahead of the forum.
Aircraft manufacturing, medical technology, instrument engineering, and food processing are priority areas for joint projects, Tatarstan’s deputy minister of industry and trade, German Lerner, said.
Indian companies could also supply electronic components to Tatarstan’s manufacturers, while Indian cloud provider Bharat AI Cloud has announced plans to open an office in Kazan.
“Our relationship goes deep into history, where our roots intersect,” Lerner said. “It’s not surprising. Trade routes passed through Tatarstan.”
The event has a strong cultural component this year. Alongside an Indian film festival and a musical project titled ‘Purana Symphony’, Tatarstan’s renowned craftsmen are presenting their wares.
“What is very important is that some of them saw similarities with their culture,” Lerner said.
The first TIME forum last year resulted in 19 cooperation agreements involving businesses, educational institutions, and regional authorities.
Workforce cooperation also expanded. Tatarstan issued 978 work permits to Indian nationals during the first eight months of 2026, compared with 665 throughout last year. Earlier this month, Putin signed off on an agreement with India on temporary employment, as Russian companies seek more workers in manufacturing and other industries.