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PM Modi in Moscow: India, Russia sign nine agreements

PM Modi in Moscow: India, Russia sign nine agreements

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Virendra Pandit

New Delhi: During Prime Minister Narendra Modi’s just-concluded two-day, high-profile visit, India and Russia signed nine Memorandums of Understanding (MoUs) and agreements on areas including trade, climate, and research, the media reported on Wednesday.

For boosting trade and joint investment projects between India and the Far East Region of Russia, the two countries inked a program of bilateral cooperation in trade, economic, and investment spheres in the Russian Far East from 2024 to 2029 as well as cooperation principles in the Arctic zone of the Russian Federation, according to the list of agreements and MoUs released by the Ministry of External Affairs.

To facilitate investment by Russian companies in the Indian market by promoting and fostering investment cooperation, a Joint Investment Promotion Framework Agreement was inked between Invest India and JSC “Management Company of Russian Direct Investment Fund.”

An MoU was signed between the Trade Promotion Council of India and All Russia Public Organisation “Business Russia” to promote bilateral trade and investment, organize B2B meetings, and business promotion events, and exchange business delegations.

Another MoU was signed between the Ministry of Environment, Forest and Climate Change and the Ministry of Economic Development of the Russian Federation on the issues of climate change and low-carbon development.

Under the deal, a Joint Working Group will be set up on the issues of climate change and low-carbon development. There will also be an exchange of information, best practices, and co-hosting research to develop low-cost technologies.

A separate MoU was also inked between India’s National Centre for Polar and Ocean Research and Russia’s Arctic and Antarctic Research Institute on cooperation in research and logistics in polar regions.

Additionally, a Cooperation Agreement was signed between the Indian International Arbitration Centre and the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation, aiming at facilitating the settlement of civil law disputes of a commercial nature.

Among other MoUs signed were between Survey of India and the Federal Service for State Registration, Cadastre and Cartography, Russian Federation; Prasar Bharati and ANO “TV-Novosti” (Russia Today TV Channel) on cooperation and collaboration on broadcasting; and Indian Pharmacopoeia Commission and Russia’s Federal State Budgetary Institution “Scientific Centre for Expert Evaluation of Medicinal Products.”


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