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Moscow, New Delhi to work on expanding economic cooperation — Indian Foreign Ministry

As the ministry notes, "the rich exchange of views on matters of mutual interest during the visit of First Deputy Prime Minister Manturov to India will contribute towards developing better understanding between the countries"

NEW DELHI, November 12. /TASS/. Russia and India have agreed to expand economic cooperation and access to new markets, the Indian Foreign Ministry reported after the 25th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) held in New Delhi.

The co-chairs of the commission were Russian First Deputy Prime Minister Denis Manturov and Indian Foreign Minister Subrahmanyam Jaishankar.

"In the backdrop of decisions taken by the Leaders during the 22nd India-Russia Annual Summit in Moscow in July 2024, the Co-Chairs directed the Working Groups and Sub-Groups to work expeditiously for early finalization of the Program of Economic Cooperation 2030, and take steps to enhance market access that could enable businesses communities of the two countries to achieve the bilateral trade target of $100 billion by 2030. Both sides also agreed to work towards developing a broad-based enabling framework for increasing economic engagement between the two countries," the ministry said in a press release.

As the ministry notes, "the rich exchange of views on matters of mutual interest during the visit of First Deputy Prime Minister Manturov to India will contribute towards developing better understanding between the countries and help expedite implementation of bilateral priorities, as well as further strengthen the Special and Privileged Strategic Partnership between India and Russia."

IRIGC-TEC is the main coordinating mechanism for bilateral cooperation in such areas as trade, economic ties, science and technology, and culture. The agenda of the 25th session of the

IRIGC-TEC included cooperation in trade, investment, hydrocarbons, nuclear energy, communications, agriculture, science and technology, IT, pharmaceuticals, healthcare, fertilizers, education, culture and other areas.

"The two Co-Chairs expressed satisfaction at the continued progress in bilateral engagement and cooperation," the ministry noted.

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