New Delhi:Russia, facing pressure from the Ukraine war, wants to strengthen ties with India. Russian Deputy Prime Minister and Minister of Industry and Trade Denis Manturov arrived in New Delhi for the India-Russia Inter-Governmental Commission meeting. He in New Delhi Foreign Minister Dr. S. Jaishankar and met with Indian business representatives. An IGC meeting will be held today between the two countries.
The Deputy Prime Minister of Russia said that the IGC between the two countries is a system for comprehensive discussions on domestic issues with the participation of various departments and organizations. Under this, not only trade and economic relations but also issues related to human development like education and culture will be discussed.
The Russian delegation informed that a cluster platform has been developed to promote investment. This will help in the implementation of joint projects. This will provide soft loans for development and production of priority products, subsidies for pilot batches and other facilities. The issue of increasing mutual access of products to the markets of both the countries has been emphasized. Apart from this, Russia along with the Eurasian Economic Commission is engaged in the exercise of concluding a free trade agreement with India soon. In addition, a proposal for a Bilateral Investment Protection Agreement that would promote and protect each other’s investment in both countries. Russia has invited India’s pharmaceutical sector with better investment facilities.
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