India and Russia Co-Chair 10th Session on Modernization and Industrial Cooperation
On October 15, India and Russia co-chaired the 10th session of the Working Group on Modernization and Industrial Cooperation. This session was part of the India-Russia inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC). The IRIGC-TEC is a key mechanism for monitoring and guiding economic cooperation between the two nations.
The IRIGC-TEC was established by an agreement signed in May 1992, with its first session held in September 1994. Since then, India and Russia have made significant progress in various sectors. The recent session highlighted progress in economic cooperation and set objectives for modernization and industrial cooperation.
Representing India was Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), while Alexey Gruzdev, Deputy Minister for Industry and Trade of the Russian Federation, represented Russia. The session’s developments were shared on the social media platform X.
India and Russia have a longstanding partnership, strengthened by the 2000 Declaration on the India-Russia Strategic Partnership. This partnership has expanded to include political, security, defense, trade, economy, science, technology, culture, and people-to-people ties. The recent visit of PM Modi to Russia further emphasized the importance of IRIGC-TEC in enhancing bilateral economic relations.
Doubts Revealed
Co-Chair -: Co-chair means that two people or groups are leading a meeting or session together. In this case, India and Russia are both leading the session.
Modernization -: Modernization means making things more modern or up-to-date. It involves using new technology and ideas to improve industries and services.
Industrial Cooperation -: Industrial cooperation is when two or more countries work together to improve their industries. This can include sharing technology, resources, and knowledge to make industries better.
IRIGC-TEC -: IRIGC-TEC stands for India-Russia inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation. It is a group that helps India and Russia work together in many areas like trade and technology.
Amardeep Singh Bhatia -: Amardeep Singh Bhatia is an Indian government official. He attended the session as a representative of India.
Alexey Gruzdev -: Alexey Gruzdev is a Russian government official. He attended the session as a representative of Russia.
Strategic Partnership Declaration -: The Strategic Partnership Declaration is an agreement between India and Russia made in 2000. It aims to strengthen their relationship and cooperation in various fields.
