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24th Russia-India Inter-Governmental Commission (IGC) Meeting In India

24th Russia-India Inter-Governmental Commission (IGC) Meeting In India:

Russia’s Deputy Prime Minister has attended the 24th Russia-India Inter-Governmental Commission (IGC) meeting in India.

  • Russia has expressed its interest in importing manufacturing equipment, including machinery, from India to replace those of Western origin.

Highlights of the Meeting:

  • Both countries reviewed the defense cooperation between India and Russia, which has been facing challenges related to deliveries and payments due to the ongoing war in Ukraine.
  • The two countries discussed the plans that India has for Russia’s far eastern region, which is an essential part of Russia’s strategy in the Indo-Pacific region.
  • They held discussions on bilateral trade efforts and the identification of new industrial points that would provide additional impetus for trade between the two countries.
  • Balance of trade currently tilts in favor of Russia, and hence, the two sides discussed ways to bring more balance in trade relations.
  • Both sides also discussed a wide range of issues related to bilateral trade, economic, and humanitarian cooperation.
  • These discussions covered many areas of mutual interest, including those related to technology, energy, healthcare, and education.