The Twentieth Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) was held in New Delhi on 5 November 2014.
The chairwoman from the Indian side was Minister of External Affairs, Sushma Swaraj and the chairman from the Russian side was Dmitry Rogozin, Deputy Prime Minister of Russian Federation.
The Commission reviewed the progress on a broad spectrum of bilateral issues including trade, economic, scientific, technological and cultural cooperation and suggested actions for realizing the full potential of this important relationship.
The next session of the IRIGC-TEC will be held in Moscow in 2015.
Highlights of the Meeting
(i) A Joint Study Group for the proposed agreement between India and the Customs Union of Belarus, Kazakhstan and the Russian Federation for trade in goods and services.
(ii) Enhancement of bilateral trade through the International North South Corridor Project (INSTC) by freight forwarders and exporters particularly to bolster trade in agriculture and food processing industry.
(iii) Maintain the momentum of cooperation in some priority areas such as hydrocarbons, coking coal, fertilizers, mining, civil aviation, infrastructure and trade in rough diamonds;
(iv) Joint cooperation between the Indian company National Mineral Development Corporation (NMDC) and the Russian company ACRON for development of potassium and magnesium deposits in Talitsky mine in Perm region of Russia and Partomchorr apatite-nepheline ore deposit (Murmansk region);
(v) Proposals for establishment of a Smart City in India by the Russian company manufacture of lighting equipment for general and special purpose in Karnataka, India.
(vi) It also proposed to include group of telecommunication satellites NextStar on geostationary orbit of the Earth on the basis of low budget platform.
Where: New Delhi
What: was held
When: 5 November 2014
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