India, Russia to Hold 1st Bilateral Regional Forum for States in 2020

New Delhi: India and Russia will hold their maiden Bilateral Regional Forum at the level of Russian Provinces and Indian States be held next year to dismantle the barriers of trade at regional level.

This was decided at a meeting between PM Narendra Modi and President Vladimir Putin in Brasilia on the sidelines of BRICS Summit. Modi formally announced his visit to Moscow for Victory Day parade in May 2020.

During the meeting both leaders reviewed the progress made in the bilateral relationship since PM’s visit to Vladivostok. PM specifically mentioned the successful visits of our Minister of Defence and Minister of Petroleum and Natural Gas to Russia. His Vladivostok visit progress has been achieved in Indian investments in diamond, timber and infrastructure sectors besides petroleum in Far-East Russia.

The two leaders noted with satisfaction that the USD 25 billion target of bilateral trade by 2025 has already been achieved. The two leaders noted the stability and progress made in imports of oil and natural gas. President Putin highlighted the potential of Arctic region in natural gas and invited India to invest in the region.

The two leaders also reviewed the progress made in the field of Infrastructure particularly railways in context of raising the speed of the Nagpur-Secunderabad sector railway line. The leaders also noted with satisfaction the cooperation in Defence sector and in the field of Civil Nuclear Energy. They welcomed the prospects of cooperation in civil nuclear energy in third countries.

In August four Indian Chief Ministers (Haryana, Gujarat, Uttar Pradesh and Goa) led by Commerce and Industry Minister and delegation of 140 Indian companies visited Vladivostok creating a new normal in Indian diplomacy with focus on outward investments and role of Indian states as entrepreneurs.

This was the maiden occasion that a CM-level delegation led by a Central Indian Minister pitched for Indian investments abroad. Choice of Russia with abundant natural resources for this endeavour is based on strong strategic partnership and personal chemistry between PM Narendra Modi and President Vladimir Putin.

It was also the first time that an Indian CM level delegation met 11 governors (Governors of Russian Far East) of any country at a forum to promote partnership.

Chief Minister of Haryana, Manohar Lal Khattar delivered his address in Russian language and invited Russian investors to Gurugram and Haryana. Goa Chief Minister, Dr. Pramod Sawant, extended an invitation to Russian businessmen to actively participate in the upcoming ‘Vibrant Goa Global Expo and Summit’. Chief Minister of Uttar Pradesh, Yogi Adityanath in his address, emphasized on collaboration in the field of energy, agriculture and food-processing. Gujarat Chief Minister, Vijay Rupani spoke in particular of the possibilities of collaboration in gold and diamond mining, and application of latest technology for utilization of natural resources.

Source:ET

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