Jul 09, 2024 10:53 PM IST
A Joint Investment Promotion Framework Agreement was also signed between Invest India and JSC “Management Company of Russian Direct Investment Fund”.
During Prime Minister Narendra Modi’s two-day visit to Russia, New Delhi and Moscow signed nine MoUs and agreements in several sectors, including trade, climate and research.
According to the list of agreements and MoUs released by the Ministry of External Affairs, India and Russia agreed on a program for bilateral cooperation in trade, economic and investment spheres in the Russian Far East for the period 2024-2029. The two countries also agreed on cooperation principles in the Arctic zone of the Russian Federation. These initiatives were undertaken to enhance trade and joint investment projects between the Far East Region of Russia and India.
A Joint Investment Promotion Framework Agreement was also signed between Invest India and JSC “Management Company of Russian Direct Investment Fund”. It will facilitate investment by Russian companies in the Indian market by promoting and fostering investment cooperation.
A memorandum of understanding (MoU) between the Trade Promotion Council of India and All Russia Public Organisation “Business Russia” was also signed to promote bilateral trade and investment, organise B2B meetings, and business promotion events; and exchange business delegations, reported PTI.
Also read: PM Narendra Modi to Putin: ‘Peace talks don’t succeed amid bombs, guns’
An 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.
A MoU was also signed 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, said the agency.
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. The agreement aims at the facilitation of 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”.
After meetings with Putin, PM Modi said that he told the Russian President that “peace talks do not succeed amidst bombs, guns and bullets”.
He said India was ready to cooperate in all ways for the restoration of peace in Ukraine. He assured the world that India was in favour of peace.
He also told Putin that seeing innocent children dying was heart-wrenching.
He also thanked Russia for helping India handle rising fuel prices.
With inputs from PTI
