Cooperation between Indian States and Russian Regions to take momentum of growth further

New Delhi, Oct 8: Indian Republic and Russian Federation have not only decided to go ahead with cooperation in the field of defence, infrastructure and technology but Indian states and Russian regions will also cooperate with each other for growth of both the countries and regions besides diamond, gem and jewellery trade.

Sources said that there are many regions in both the countries that needs special and specialised attention so steps will help to help progress those regions. Both the countries have appreciated efforts to further cement and institutionalize cooperation between Indian States and Russian Regions. This is being an attempt to carry forward momentum of cooperation between States and Union Territories of the Republic of India and Subjects of the Russian Federation, both Sides directed further intensification of direct contacts between business, entrepreneurs and governmental bodies on both sides.

Efforts aimed at signing of agreements between Assam and Sakhalin, Haryana and Bashkortostan, Goa and Kaliningrad, Odisha and Irkutsk, Visakhapatnam and Vladivostok have been welcomed by both the countries with open arms. They agreed to encourage participation by regional delegations in major events like Saint Petersburg International Economic Forum, Eastern Economic Forum and Partnership/Investment Summits and also welcomed the intention to organize and hold the India-Russia inter-regional forum.

India and Russia also agreed to work together to explore joint projects for productive, efficient and economic use of natural resources in both the countries through application of appropriate technologies while ensuring affordable environment friendly utilization of natural resources. Sources said that this has also required cooperation from states as well.

Agriculture sector is also as an important area for cooperation and committed themselves to eliminating trade barriers, greater production and trade in agricultural products. Cooperation achieved in diamond sector which is predominantly based in Gujarat including the signing of a new long-term contracts for rough diamond supplies by PJSC ALROSA to Indian companies, opening of the ALROSA representative office in Mumbai and joint financing by the ALROSA and the Gem and Jewellery Export Promotion Council of India of the International Diamonds Producers Association on the development of programmes of generic marketing of diamonds, including in the Indian market. They noted recent investments by Indian companies in the diamond manufacturing in the Russian Far East. They also agreed to explore opportunities of joint collaboration in precious metals, minerals, natural resources and forest produce, including timber, through joint investments, production, processing and skilled labour.