New Delhi [India], April 10 (ANI): During the 8th Session, India and Russia consented to undertake six additional strategic initiatives designed to boost mutual investment collaboration. India-Russian Federation Task Force for 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 India-Russia Intergovernmental Committee for Trade, Economic, Scientific, Technical, and Cultural Cooperation. It aimed at promoting joint initiatives in areas where both countries share common interests. During this session, the chairs jointly endorsed a document outlining these proposed ventures and assessed the progress made during the preceding seventh round of discussions.
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 Indian Chamber of Commerce (ICC) , as mentioned in the statement issued by the Ministry of Economic Development of the Russian Federation.
The forum witnessed enthusiastic involvement from more than 80 enterprises, encompassing entrepreneurs, banking entities, freight firms, trade 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 under the Ministry of Commerce and Industry in India, and Vladimir Ilichev, Deputy Minister at the Ministry for Economic Development of the Russian Federation representing Russia.
Each side emphasized the significance of sustained collaboration in investments and trade to bolster their economic relationship.
Russia has consistently served as a reliable and proven ally for India. The advancement of India-Russia ties has been a crucial cornerstone of India’s diplomatic strategy. Following the endorsement of the "Declaration on the India-Russia Strategic Partnership" in October 2000 (during the course of the Russian visit), President Putin ), India-Russia ties have acquired a qualitatively new character with enhanced levels of cooperation in almost all areas, including political, security, defence, trade and economy, science & technology, culture, and people-to-people ties. During the visit of the Russian President to India in December 2010, the Strategic Partnership was elevated to the level of "Special and Privileged Strategic Partnership. (ANI)
