KAZAN, October 15. /TASS/. Russian-Indian cooperation in the energy sector and space exploration is growing, Russian Foreign Minister Sergey Lavrov said in an address to participants of the second Russia-India Business Forum TIME.

"The multifaceted dialogue between Moscow and New Delhi, based on the principles of sovereign equality, mutual respect, and trust, is rightly characterized as a privileged strategic partnership. Cooperation in trade, the economy, and technology, including in the fields of energy and space exploration, is progressing successfully," the minister said. The text of his address was read out by Alexey Pavlovsky, Director of the Foreign Ministry’s Second Asian Department, at the opening ceremony.

Lavrov also pointed to growing scientific, educational, cultural, and humanitarian exchanges, adding that Russia and India closely coordinate their actions on the international stage, including within the UN, as well as in BRICS and the SCO. "Next year we will mark an important milestone that we share, the eightieth anniversary of the establishment of diplomatic relations," he said.

The minister also voiced confidence that the Russian-Indian forum would contribute constructively to the development of bilateral ties and conclude with the signing of mutually beneficial agreements.

The second Russia-India Business Forum TIME is being held in Kazan from October 15 to 16. The event seeks to promote trade and economic cooperation between the two countries.

Forum participants are expected to discuss ways to carry out joint initiatives and promising investment projects, as well as prospects for technological and economic cooperation.

TASS is the event’s information partner.