India, Russia Hold Talks to Boost Industrial and Tech Ties
In a significant development, India and Russia recently held the 11th Working Group Session on Modernisation & Industrial Cooperation in New Delhi. The session saw officials from both nations gather to discuss the progress made so far and explore new areas of collaboration in key sectors such as aerospace, mining, fertilisers, railways, and advanced technologies like 3D printing. The event, which drew participation from around 80 delegates, culminated in the signing of a protocol, underscoring both nations’ commitment to strengthen industrial ties.
The meeting took place at a crucial time, as India is looking to diversify its economy and reduce its dependence on traditional sectors such as textiles and agriculture. Russia, on the other hand, is seeking to expand its presence in the Indian market and leverage India’s growing economy. The session provided a platform for both nations to discuss ways to achieve these goals and strengthen their industrial and tech ties.
One of the key areas of focus during the session was aerospace. India and Russia have a long history of collaboration in this sector, with Russia being one of the largest suppliers of military equipment to India. The two nations are currently working together on several projects, including the development of the Sukhoi Su-30MKI fighter jet and the BrahMos supersonic cruise missile. During the session, officials discussed the possibility of collaborating on new projects, including the development of a new generation of fighter jets.
Mining was another sector that was discussed during the session. India is rich in mineral resources, but the sector has been plagued by inefficiencies and corruption. Russia, on the other hand, has a well-established mining industry and has been looking to expand its presence in the Indian market. The two nations are currently working together on several mining projects, including the development of a new iron ore mine in Odisha. During the session, officials discussed the possibility of collaborating on new projects, including the development of a new coal mine in Jharkhand.
Fertilisers was another sector that was discussed during the session. India is a major producer of fertilisers, but the sector has been facing challenges due to declining global prices and increasing competition from other countries. Russia, on the other hand, has a well-established fertiliser industry and has been looking to expand its presence in the Indian market. The two nations are currently working together on several fertiliser projects, including the development of a new urea plant in Gujarat. During the session, officials discussed the possibility of collaborating on new projects, including the development of a new ammonia plant in Maharashtra.
Railways was another sector that was discussed during the session. India and Russia have a long history of collaboration in this sector, with Russia being one of the largest suppliers of locomotives to India. The two nations are currently working together on several projects, including the development of a new generation of high-speed trains. During the session, officials discussed the possibility of collaborating on new projects, including the development of a new freight corridor in the eastern region of the country.
Advanced technologies like 3D printing were also discussed during the session. India is looking to leverage advanced technologies like 3D printing to boost its manufacturing sector and reduce its dependence on traditional industries. Russia, on the other hand, has a well-established industry in this sector and has been looking to expand its presence in the Indian market. The two nations are currently working together on several projects, including the development of a new 3D printing facility in Chennai. During the session, officials discussed the possibility of collaborating on new projects, including the development of a new 3D printing centre in Bengaluru.
The session ended with the signing of a protocol, reaffirming both nations’ commitment to strengthen industrial ties. The protocol outlined several areas of cooperation, including the development of new industries, the promotion of trade and investment, and the enhancement of technological cooperation. The protocol also emphasized the importance of cooperation in the fields of energy, infrastructure, and education.
In conclusion, the 11th Working Group Session on Modernisation & Industrial Cooperation between India and Russia was a significant development in the context of industrial and tech ties between the two nations. The session provided a platform for officials from both nations to discuss ways to strengthen their industrial ties and explore new areas of cooperation. The signing of the protocol at the end of the session reinforces the commitment of both nations to collaborate and strengthen their industrial ties.
Source: https://www.refersms.com/india-russia-boost-ties-in-key-sectors/
