India and Russia Seal Six New Strategic Projects to Supercharge Bilateral Investment
New Delhi [India], April 10 (ANI): India and Russia have approved six new strategic initiatives designed to boost bilateral investment collaboration during the 8th Session of the India-Russian Federation Task Force on Key Investment Initiatives (IRWG-PIP), according to a press release.
The meeting held in the nation’s capital on Wednesday took place within the framework of the Indo-Russian Inter-Governmental Commission for Trade, Economic, Scientific, Technical, and Cultural Cooperation. It centered around promoting joint initiatives in areas beneficial to both countries. During this session, the chairs jointly endorsed a document outlining these proposed ventures and assessed the accomplishments from the preceding seventh session.
India and Russia talked about steps to boost economic relations and confirmed their dedication to increasing investment cooperation.
The session was succeeded by the 2nd edition of the India-Russia Investment Forum, organized in partnership with Invest India, the India Business Council (IBC) , as mentioned in the statement released by the Ministry of Economic Development of the Russian Federation.
The forum witnessed robust involvement from more than 80 enterprises, encompassing entrepreneurs, banking entities, freight firms, business associations, as well as representatives from both nations.
The session was led jointly by Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade at the Ministry of Commerce and Industry in India, and Vladimir Ilichev, Deputy Minister of the Ministry for Economic Development of the Russian Federation representing Russia.
Both parties emphasized the significance of sustained collaboration in investments and trade to reinforce their economic alliance.
Russia has consistently served as a reliable and proven ally for India. The fostering of India-Russia ties has been a fundamental cornerstone of India’s diplomatic strategy. This relationship was further solidified with the signing of the "Declaration on the India-Russia Strategic Partnership" in October 2000, during the course of an official visit to Russia. President Putin India-Russia relations have taken on a substantially new dimension with increased collaboration across nearly every domain, such as politics, security, defense, commerce and economics, science and technology, cultural exchanges, and bilateral interactions between citizens. The strategic partnership reached an even higher echelon during the Russian president’s trip to India in December 2010 when it was upgraded to become “a Special and Privileged Strategic Partnership.” (ANI)