Agreement Between India And Russia

The unique political closeness between nations is reflected in the coherence with global priorities. The two countries share similar views on the fight against terrorism without double standards, a more representative multipolar world order based on international law, with the United Nations playing a central role, and the resolution of threats to international peace and security. Russia supports India`s permanent accession to the UN Security Council. With regard to Syria and Afghanistan, both countries called for resolute action to achieve a lasting and peaceful solution and defeat the forces of terrorism. We work together on other global challenges, such as cybersecurity, space weapons prevention and the prevention of weapons of mass destruction. Russia`s Far East is another region of potential economic engagement. India`s presence in the Eastern Economic Forum (EDF) aims to develop trade, trade, investment, railway infrastructure, steel mills, defence, space, ports and navigation. India has successfully participated in the annual EDF, with Prime Minister Narendra Modi calling for an “Act Far East” policy and announcing a $1 billion credit line for the development of the Far East. Beyond these developments, our economic relations focus on developing the potential of sub-regional cooperation. Sub-regional cooperation has proven to be one of the future areas of regional cooperation and networking in order to give new impetus to economic cooperation between India and Russia. The main objective is to consolidate and institutionalize cooperation between the States and territories of the Union of the Republic of India and the provinces of the Russian Federation. Diplomatic relations between India and Russia began before India`s independence on April 13, 1947. In the immediate post-independence period, India`s goal was to achieve economic self-sufficiency by investing in heavy industry.

The Soviet Union has invested in several new companies in heavy machinery construction, mining, energy production and steel mills. During India`s second five-year plan, eight of the sixteen heavy industrial projects were launched with the help of the Soviet Union. This included the creation of the world-famous IIT Bombay. Both governments have long considered their bilateral trade well below its optimal potential, which can only be corrected in the long term by a free trade agreement (FTA). [65] [66] The two governments have set up a Joint Task Force (JSG) to negotiate the specifications of an agreement, a final agreement between India and the Eurasian Economic Union, to which Russia belongs (including Kazakhstan, Armenia, Kyrgyzstan and Belarus). [67] As a result, the indorused free trade agreement would lead to a much broader free trade agreement, which would include India, Russia, Kazakhstan, Armenia, Kyrgyzstan and Belarus. [65] Bilateral trade, once a free trade agreement is in place, is expected to significantly increase the importance of the economy in bilateral relations. [65] [68] [69] The Indorussian Government Commission (IRIGC) is the main body that conducts government-level business between the two countries. [8] Some have called it an odorless relationship steering committee.

[8] It is divided into two parts, the first of which concerns commercial, scientific, technological and cultural cooperation.

Pin It