News Brief
India, Russia Agree On Six New Strategic Projects To Enhance Bilateral Investment Cooperation
Prime Minister Narendra Modi and Russian President Vladimir Putin.
India and Russia have agreed to work on six new strategic projects to boost bilateral investment cooperation.
The 8th Session of the India-Russia Working Group on Priority Investment Projects (IRWG-PIP) was successfully convened in New Delhi on Wednesday (9 April) under the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.
Co-chaired by DPIIT secretary Amardeep Singh Bhatia, and Vladimir Ilichev, Deputy Minister of the Ministry for Economic Development of the Russian Federation, the session culminated in the signing of a comprehensive protocol.
The protocol outlines several projects of strategic importance aimed at bolstering mutual investment and fostering sectoral collaboration.
"The session aimed at strengthening economic ties between India and Russia by identifying and advancing collaborative projects in sectors of mutual interest," the Ministry of Commerce said in a statement.
"The Working Group also reviewed the outcomes of the 7th session, and both sides agreed to include six new strategic projects aimed at deepening bilateral investment cooperation," it added.
In parallel, the 2nd Edition of the India-Russia Investment Forum was also hosted on the sidelines of the session, organised in collaboration with Invest India, the Indian Chamber of Commerce (ICC), and the Ministry of Economic Development of the Russian Federation.
The forum witnessed participation from over 80 Indian and Russian businesses, including entrepreneurs, financial institutions, cargo companies, business chambers, researchers, and officials.
