India and Russia Strengthen Ties
S Jaishankar and Denis Manturov Sign MoU in Delhi
On November 12, External Affairs Minister S Jaishankar and First Deputy Prime Minister of Russia, Denis Manturov, signed a Memorandum of Understanding (MoU) in Delhi. This event marked the conclusion of the 25th Session of the India-Russia Intergovernmental Commission on trade, economic, scientific, technical, and cultural cooperation.
Jaishankar expressed gratitude to Manturov and the delegations for their contributions, highlighting the productive discussions on India-Russia economic and trade cooperation. The talks focused on enhancing food, energy, and health security, as well as facilitating talent and skills mobility.
The IRIGC-TEC mechanism, established in 1992, includes 14 Working Groups and 6 Sub-Groups covering various sectors. The 25th Session’s agenda included trade, investments, nuclear energy, agriculture, IT, healthcare, and more. Both sides agreed to expedite the Programme of Economic Cooperation 2030 and aim for a bilateral trade target of USD 100 billion by 2030.
The session was preceded by the India-Russia Business Forum in Mumbai, where key themes like manufacturing and investments were discussed. Manturov also met with Indian leaders, including Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, and National Security Adviser Ajit Doval.
The visit is expected to enhance the Special and Privileged Strategic Partnership between India and Russia, fostering better understanding and cooperation.
Doubts Revealed
S Jaishankar -: S Jaishankar is the External Affairs Minister of India. He is responsible for managing India’s foreign relations and international affairs.
Denis Manturov -: Denis Manturov is the First Deputy Prime Minister of Russia. He plays a key role in the Russian government, helping to manage the country’s economic and industrial policies.
MoU -: MoU stands for Memorandum of Understanding. It is a formal agreement between two or more parties, often used to outline the terms and details of a partnership or collaboration.
Delhi -: Delhi is the capital city of India. It is a major center for politics, culture, and commerce in the country.
India-Russia Intergovernmental Commission -: The India-Russia Intergovernmental Commission is a platform where India and Russia discuss and enhance their cooperation in various fields like trade, economy, and culture.
USD 100 billion trade target -: This refers to the goal set by India and Russia to increase their trade to 100 billion US dollars by the year 2030. It means they want to buy and sell more goods and services to each other.
Strategic partnership -: A strategic partnership is a long-term relationship between two countries that work closely together on important issues like security, trade, and culture.