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.