India and Russia Sign Nine Key Agreements During Modi's Visit

10 Jul, 2024

India and Russia Sign Nine Key Agreements During Modi's Visit

During Prime Minister Narendra Modi's two-day visit to Russia, India and Russia signed nine MoUs and agreements across various sectors, including trade, climate, and research. A Joint Investment Promotion Framework Agreement was signed between Invest India and JSC "Management Company of Russian Direct Investment Fund" to facilitate Russian investments in India.

The nations agreed on a program for bilateral cooperation in trade, economic, and investment spheres in the Russian Far East for 2024-2029. They also established principles for cooperation in the Arctic zone of the Russian Federation. An MoU was signed between the Trade Promotion Council of India and All Russia Public Organisation "Business Russia" to promote bilateral trade, organize B2B meetings, and exchange business delegations. Other significant agreements included an MoU on climate change and low-carbon development between India's Ministry of Environment and Russia's Ministry of Economic Development.

An MoU on polar research was signed between India's National Centre for Polar and Ocean Research and Russia's Arctic and Antarctic Research Institute. Additional agreements covered broadcasting, pharmacopoeia, arbitration, and cartography. PM Modi emphasized India's commitment to peace, urging an end to violence in Ukraine and expressing India's readiness to assist in restoring peace. He also thanked Russia for helping India manage rising fuel prices.