Broadening bilateral trade and economic cooperation is a priority for both India and Russia. Since the RussiaIndia Strategic Partnership Agreement was signed in October 2000, the relationship between the two countries has expanded in a multitude of areas, including politics, national security, trade, economics, defence, science, technology, and culture. The leaders of the two countries have set a goal of increasing bilateral trade to USD 30 billion by 2025. What are the major trends and characteristics of the economic and trade relationship between Russia and India? Which areas of cooperation should take priority and what measures could be taken to further develop economic relations and encourage diversification?