EAM Jashankar & Russian Deputy PM discuss enhanced market access, early finalisation of Programme of Economic Cooperation 2030
| 2024-11-12
Indian and Russian delegations at the 25th Session of IRIGC-TEC held in New Delhi on November 12, 2024.
Discussions also reinforce critical food, energy & health security issues
The decisions came during 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 meeting was co-chaired by Russia’s First Deputy Prime Minister Denis Manturov and India’s External Affairs Minister S Jaishankar.
“Co-chaired a productive and wide ranging 25th meeting of the India-Russia Intergovernmental Commission in Delhi. Thank my co-chair First DPM Denis Manturov and our delegations for their contribution.
Our deliberations covered the complimentary and beneficial India-Russia economic and trade cooperation, reinforcing critical food, energy & health security and facilitating mobility of talent and skills.
Confident that our deliberations today will make a strong contribution to the direction and progress of our strategic partnership,” EAM Jaishankar posted on social media platform X (formerly Twitter).
The IRIGC-TEC mechanism, set up under an Inter- Governmental Agreement, signed in 1992, comprises 14 Working Groups and 6 Sub-Groups in diverse areas. It is the major coordinating mechanism for bilateral cooperation in areas such as trade, economic ties, science and technology, and culture.
According to the Ministry of External Affairs (MEA), during Tuesday’s meeting, the Co-Chairs directed the Working Groups and Sub-Groups to work expeditiously for early finalization of the Programme 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 USD 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. These are in line with the decisions taken by Prime Minister Narendra Modi and President Vladimir Putin during the 22nd India-Russia Annual Summit in Moscow in July 2024.
The agenda of the 25th Session of the IRIGC-TEC included cooperation in trade, investments, hydrocarbons, nuclear energy, connectivity, agriculture, science & technology, IT, pharmaceuticals, healthcare, fertilizers, education, culture and other areas.
On Monday (November 11, 2024), Deputy Prime Minister Manturov called on Prime Minister Narendra Modi and they exchanged views on enhancing cooperation in various areas, including trade and economic ties, energy, connectivity among others.
“Glad to meet Russia’s First Deputy PM Denis Manturov today. Happy to see that teams on both sides are working together to implement decisions taken during my recent visits and meetings with President Putin to further strengthen India-Russia Special and Privileged Strategic Partnership,” Prime Minister Modi wrote on X.
According to the MEA, Prime Minister Modi welcomed the sustained and joint efforts being made by the teams on both sides for the implementation of the decisions taken during his recent visits to Russia and his meetings with President Putin to further strengthen the India- Russia Special and Privileged Strategic Partnership.
The visiting Russian First Deputy Prime Minister also met Minister of Finance and Minister of Corporate Affairs Nirmala Sitharaman, and National Security Adviser Ajit Doval.
“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,” the MEA stated.
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