India and Russia have agreed to work together on six new strategic projects. This decision was announced by the Indian Ministry of Commerce and Industry on Wednesday. The two countries want to strengthen their investment partnership.
The exact sectors and project details were not shared yet. But both India and Russia have promised to extend their economic ties. They also plan to work together in many industries.
The agreement was made during a meeting of the India-Russia Working Group on Priority Investment Projects. This group is part of the larger India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation.
These new projects were announced at a time when global trade is facing many problems. One of the main reasons is the trade war caused by US President Donald Trump’s tariff policies. Because of this, international trade has become more complicated.
Last month, India and Russia held a high-level conference in Moscow. During this meeting, both sides discussed new ways to make their partnership stronger.
India and Russia also set a new trade goal. They aim to increase their trade to $100 billion in the next five years. This target was agreed upon by Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. Both leaders met in Moscow in July 2024.
Ivan Timofeev, Director-General of the Russian International Affairs Council, praised the progress. He said that the trade growth between India and Russia is impressive. He highlighted energy as a key factor. He also mentioned other important areas like nuclear energy and military-technical cooperation. Timofeev believes food security will become a major part of future ties.
Traditionally, India and Russia have worked together in energy, defense, and civil nuclear fields. But now both sides are looking at new areas. These include technology, trade, agriculture, pharmaceuticals, and connectivity. Indian Foreign Minister S. Jaishankar said that these new sectors will shape future cooperation. He also believes the regional economy will become more important in their partnership.
Where Europeans are struggling with their economy, political instability, and social problems, Russia is expanding its reach in every sector. Russia’s relations with the world are becoming stronger day by day; even with the US, Russia is set to cooperate on energy and other sectors of mutual interests, and Europe is struggling to get their required energy supply.
