October 18, 2024
1 min read

India, Russia co-chair modernisation and industrial cooperation meeting

The session was organised under the aegis of India-Russia inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC)….reports Asian Lite News

India and Russia co-chaired the 10th session of the Working Group on Modernization and Industrial Cooperation on October 15.

The session was organised under the aegis of India-Russia inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC).

Under the Strategic Partnership, several institutionalized dialogue mechanisms operate at both political and official levels to ensure regular interaction and follow-up on cooperation activities.

IRIGC-TEC guides the conduct of economic cooperation at the Governmental level. Thus, it serves as a mechanism for regularly monitoring bilateral progress across the sectors of trade and economic cooperation between India and Russia.

This was set up by an Agreement on the inter-governmental Commission on Trade, Economic, Scientific and Technological Cooperation signed in May 1992. The first session of IRIGC was held on 13 and 14 September 1994.

Since then the two countries have seen significant developments across diverse fronts. The developments were shared on the social media platform, X.

The Indian side saw representation from Amardeep Singh Bhatia, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).

The Russian side saw representation from Alexey Gruzdev, Deputy Minister for Industry and Trade of the Russian Federation.

It was noted in the post that both the countries “shared progress on several pillars of economic cooperation and outlined the objectives for modernization and industrial cooperation in various sectors”.

Russia has been a longstanding and time-tested partner of India.

Since the signing of the “Declaration on the India-Russia Strategic Partnership” in 2000, India-Russia ties have seen heightened levels of cooperation in almost all areas, including political, security, defence, trade and economy, science & technology, culture, and people-to-people ties.

The two countries have a Special and Privileged Strategic Partnership.

With the recent visit of PM Modi to Russia in July earlier this year, Modi and Putin appreciated the work of IRIGC-TEC for ensuring further expansion and diversification of bilateral economic relations. (ANI)

ALSO READ: China tells India to tread lightly on Taiwan

Previous Story

India, Russia co-chair modernisation and industrial cooperation meeting

Next Story

India, Russia co-chair modernisation and industrial cooperation meeting

Latest from -Top News

India-EU Trade Talks Resume

The proposed India-EU FTA covers 23 policy areas, or chapters, of which at least two – market access and rules of origin – have yet to be resolved….reports Asian Lite News India

India Launches Relief Ops in Bhutan

The Royal Government of Bhutan has expressed sincere gratitude to the Indian Army…reports Asian Lite News Amid unprecedented floods caused by a low-pressure system over the Bay of Bengal, relentless rainfall has

Piyush Goyal Heads to Doha for Trade Talks

During the visit, both sides are expected to discuss the proposed India–Qatar Free Trade Agreement (FTA)….reports Asian Lite News Union Commerce and Industry Minister Piyush Goyal will travel to Doha, Qatar, on

Jaishankar Hints at Tariff Deal with US

Jaishankar explained that the ongoing trade tensions largely stem from the inability of both sides to reach a common ground on several issues….reports Asian Lite News External Affairs Minister S. Jaishankar on
Go toTop

Don't Miss

India’s ‘SECURE’ Agenda at SCO Summit

The SECURE principle was emphasized as the central theme of

Kenya’s Odinga Slams Adani Deal U-Turn

Before the cancellation of the deal, Odinga was among the