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23rd Meeting of India-Russia Intergovernmental Commission 'IRIGC-TEC' held in Moscow
23rd Meeting of India-Russia Intergovernmental Commission 'IRIGC-TEC' held in Moscow, Russia: Details, Highlights
The 23rd India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) was held on 14th September 2018 in Moscow, Russia.
The 23rd 'IRIGC-TEC' was co-chaired by India's External Affairs Minister, Sushma Swaraj and Mr.Yuri Borisov, Deputy Prime Minister of the Russian Federation.
The 22nd 'IRIGC-TEC' last meeting, was held in New Delhi in December 2017.
The 'IRIGC-TEC' has met in the run-up to the 19th India-Russia Annual Summit which is expected to be held in India early October.
23rd 'IRIGC-TEC' Talks Key Highlights
India attached ‘highest importance’to ties with Russia.
Discussed ways to enhance bilateral trade which in 2017 reached USD 10.17 billion,
To enhance 2-way investment to USD 50 billion by 2025 which currently stands at USD 30 billion,
Discussion on working together on projects in third countries,
Discussion on cultural and tourism exchanges,
Cooperation in the area of space
To enable electronic visas for Indian nationals visiting the Russia Far East.
Cooperation in areas such as agriculture, infrastructure, transport, and Science and Technology.
Both sides agreed to organize the first-ever India-Russia Business Summit involving major companies from both sides in early October in India.
Cooperation in the pharmaceutical sector which included setting up of joint venture projects in Russia.
Discussions on International North-South Transport Corridor (INSTC), a connectivity project linking India, Iran, Pakistan and Russia, and several other central Asian countries.
Cooperation between Indian and Russian museums,
Discussion on the construction of another Nuclear Power plant in India
Resolving payments in the Russian arms supply contract to arms exporter Rosoboronexport.
About IRIGC-TEC
It is a standing body which annually meets and reviews ongoing activities of bilateral cooperation in the fields of bilateral trade and investment, science and technology, culture and other issues of mutual interest.
