On October 15, India and Russia co-chaired the 10th session of the Working Group on Modernization and Industrial Cooperation. This session was part of an ongoing series of efforts to strengthen ties between the two nations in various sectors, particularly through industrial and technological cooperation.
Framework for India-Russia Cooperation
The session was organized under the framework of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC). The IRIGC-TEC is a critical body that oversees the development of relations between the two countries through their guiding efforts to enhance trade and economic collaboration. The group provides a structured forum for dialogue and exchange between both governments and ensuring that their cooperation stays on track.
Institutional Mechanisms for Cooperation
India and Russia maintain a robust Strategic Partnership that is supported by various institutionalized dialogue mechanisms. These mechanisms operate at both the political and official levels by facilitating regular interaction and follow-up on shared initiatives. Through these discussions, both countries work to ensure that their cooperation efforts are not only planned but also effectively implemented.
Role of IRIGC-TEC in Economic Progress
The IRIGC-TEC plays a key role in monitoring and guiding the bilateral relationship, especially in the realm of economic cooperation. By providing regular updates and overseeing the implementation of agreements, this body ensures that India and Russia can track their progress in key sectors such as trade, technology, and industrial growth. It acts as a vital tool for maintaining momentum in these critical areas.
Historical Foundation of IRIGC-TEC
The foundation for the IRIGC-TEC was laid through an agreement signed in May 1992. This agreement aimed to formalize cooperation between the two countries in trade, economic, scientific, and technological fields. The first session of this commission was held on September 13 and 14, 1994, marking the beginning of a long-standing collaborative effort that continues to evolve today.
The 10th session of the Working Group on Modernization and Industrial Cooperation between India and Russia reflects the enduring commitment of both nations to strengthen their partnership in crucial sectors. Through the IRIGC-TEC, they have established a framework that ensures sustained progress and regular dialogue on shared goals.
Significant Developments in India-Russia Cooperation: A Look at Recent Progress where Continued Growth in Bilateral Relations is seen
Since the establishment of the India-Russia partnership through the Inter-Governmental Commission (IRIGC-TEC), the two countries have experienced significant growth across a range of sectors. These developments highlight the effectiveness of their collaborative efforts in areas such as trade, industry and technological modernization. Recent updates on these developments were shared through the social media platform X, by the Indian Embassy in Moscow, emphasizing the importance of transparency and public engagement in their partnership.
Key Representatives from Both Sides
The Indian delegation at the latest meeting was led by Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) while Russia was represented by Alexey Gruzdev, Deputy Minister for Industry and Trade of the Russian Federation. Both leaders played an essential role in discussing the current status and future direction of economic cooperation between the two nations.
Shared Vision for Modernization and Economic Growth
According to the social media post, both India and Russia "shared progress on several pillars of economic cooperation." This included key areas of modernization and industrial cooperation where the two nations are working together to drive innovation and growth in various sectors. The meeting also set clear objectives for the future by ensuring that both countries remain aligned in their pursuit of modernization and technological advancement.
The collaboration between India and Russia continues to flourish with both nations making significant strides in their shared goals. The recent updates on X reflect their commitment to transparency and a joint vision for future economic development.
Russia has been a reliable partner for India over the years. Following the "Declaration on the India-Russia Strategic Partnership" in 2000, their relationship has deepened significantly across various sectors including politics, security, defense, trade, science and technology, culture, and interpersonal connections. The partnership is classified as Special and Privileged. During PM Modi's recent visit to Russia in July 2023, both he and President Putin acknowledged the contributions of the Indo-Russian Inter-Governmental Commission on Trade, Economic, Scientific and Technological Cooperation (IRIGC-TEC) in promoting and diversifying their economic ties.
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