NEW DELHI, September 10. /TASS/. Russia's Aurus Cashmere, India's Bansal Spinning Mills and Sberbank have signed a memorandum of cooperation at the Innoprom India exhibition, Aurus Cashmere said.

The cooperation is aimed at developing joint Indian-Russian textile production.

"The landmark Indian-Russian cooperation in the textile industry will make it possible to create a textile production chain using Russian raw materials and Indian manufacturing expertise, with subsequent supplies to the Russian market and the markets of EAEU countries," the company said.

Under the cooperation, wool produced in Russia, including in the Republic of Kalmykia, is expected to be used to manufacture fabrics under the Aurus Cashmere brand in India at Bansal Spinning Mills' production facilities.

TASS is the event's general information agency.