**Russia and India Expand Industrial Cooperation**
Moscow, Russia – Russia is poised to enhance its industrial cooperation with India, with a focus on sharing advanced technologies to support the development of Indian industries. Roman Chekushov, the Deputy Minister of Industry and Trade, made these remarks during the Eastern Economic Forum held in Vladivostok on Thursday.
Chekushov emphasized that Russia is prepared to share its high-end technologies with India, highlighting the growing interest from the Indian side in acquiring such technologies. This initiative marks a significant step as both countries aim to deepen their relationship beyond traditional trade ties.
According to Chekushov, several Russian companies, particularly in the transportation and chemical sectors, have already established production facilities in India. He described this as merely the initial phase of collaboration, with more Russian firms exploring opportunities to expand their presence in the Indian market. This move aligns with India's "Make in India" initiative, championed by Prime Minister Narendra Modi, which seeks to stimulate economic growth and create job opportunities in the country.
The upcoming INNOPROM India trade fair, set to take place in New Delhi next week, is expected to further facilitate this industrial cooperation. The event, which occurs just ahead of the 18th BRICS Summit, will showcase advanced technologies and foster collaboration across various sectors, including aviation and artificial intelligence (AI). The participation of major Russian and Indian companies at the fair underscores the commitment of both nations to enhance industrial ties.
Historically, India has been a significant purchaser of Russian military equipment, a relationship that has strengthened in recent years, particularly following geopolitical tensions in the region. After a terrorist attack in Kashmir last year, which resulted in the deaths of 26 civilians, India's defense ties with Russia deepened further. Additionally, India has become the second-largest buyer of Russian oil, increasing its imports in response to disruptions in energy supplies from the Persian Gulf due to ongoing conflicts.
Beyond trade and defense, India is also showing interest in the Northern Sea Route, which Russia is developing as a more efficient trade pathway to northern Europe via the Arctic Ocean. This route could potentially enhance trade connectivity and reduce shipping times between the two regions.
The bilateral trade between Russia and India has ambitious targets, with both nations aiming to reach $100 billion in trade by 2030. This goal reflects the growing economic partnership and the potential for increased collaboration across various sectors.
As the two countries continue to strengthen their industrial cooperation, the sharing of technology and expertise is expected to play a crucial role in fostering economic growth and enhancing bilateral relations in the years to come.