NEW DELHI, June 20. /TASS/. Russia and India have unique opportunities to deepen cooperation in various fields, and one of the most promising areas is high technology, specifically IT and artificial intelligence (AI), President of the Indian Chamber of International Business (ICIB) Manpreet Singh, who is taking part in the SPIEF, told TASS.

Singh is adamant that Moscow and New Delhi can achieve great things by joining forces in innovative sectors.

"Traditionally it (the Russian-Indian partnership - TASS) has always centered around defense and energy, but there’s far greater potential for collaboration, particularly in the as yet untapped high technology sphere, specifically in the AI and IT sectors," Singh said in a phone interview with TASS.

According to him, Russia has strong expertise in these areas, but in India, the possibilities of cooperation with Russia in these areas have not been explored enough. At the same time, India is known for its specialization in the field of information technology, and combining these two strengths will open up great potential for both countries, he said. Singh believes that such cooperation will benefit not only India and Russia, but also the entire Global South.

"If we can combine our efforts for the benefit of the Global South then the world will be a very different place," he said.

Singh also noted the importance of SPIEF, which, in his opinion, serves both to strengthen relations between Moscow and New Delhi and to expand international cooperation.

"SPIEF is a place where commercial entities, businesses, educational and research institutions can interact, share innovations and exchange knowledge," he stressed.

The ICIB President said that many of his partners with whom he cooperates in the Middle East were found thanks to this forum.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.