The Second\nIndia-Russia Strategic Economic Dialogue (IRSED) was in New Delhi, under the\nchairmanship of Dr. Rajiv Kumar, Vice-Chairman, National Institution for\nTransforming India (NITI) Aayog and Mr. TimurMaksimov, Deputy Minister of the\nEconomic Development of the Russian Federation.<\/p>\n\n\n\n
The Second meeting\nof the IRSED focussed on six core areas of cooperation, namely, Development of Transport Infrastructure\nand Technologies; Development of Agriculture and Agro-Processing sector; Small\nand Medium Business support; Digital Transformation and Frontier Technologies;\nCooperation in Trade, Banking, Finance, and Industry; and Tourism & Connectivity.<\/p>\n\n\n\n
\u201cThe IRSED comes at an opportune moment as India embarks upon\nensuring the fruits of development devolve to the grassroots, as every citizen\nof the country becomes part of the growth & development process, as\nevidenced by a forward-looking Union Budget. Increased investment and\ninternational cooperation is key\u201d, said Dr Rajiv Kumar at the Second\nIndia-Russia Strategic Economic Dialogue.<\/p>\n\n\n\n
\u201cResults of today’s discussions will help enhance strategic\neconomic cooperation between our countries. We must discuss and prepare\nspecific proposals for joint action in the future and establish economic\nrelations which reflect the potential of cooperation between the two\ncountries\u201d, said Mr TimurMaksimov.<\/p>\n\n\n\n
The Dialogue included parallel roundtables which discussed\nareas of cooperation and concrete roadmaps for future negotiations across\noutlined core areas. Participants included government officials, business\nleaders and experts, bringing in diverse perspectives for ideation. <\/p>\n\n\n\n
The roundtable on Digital transformation and Frontier\nTransformation focussed on areas of collaboration between India and Russia in\nthe digital space and frontier technologies. Various platforms developed by\nRussia and how these can be leveraged by India, and vice versa, and potential\nfor future collaborations were dicussed across various sectors such as payments\nplatform, joint startup ecosystem, use of digital technology in various areas\nsuch as education, construction and skilling. <\/p>\n\n\n\n
Development of Transport Infrastructure and Technologies\nroundtable discussed areas of cooperation across various modes of transport\nsuch as speed upgradation, safety and passenger comfort in railways, creation\nof twin ports between India and Russia, ship building and river navigation,\nresearch and development, and ensuring predictability of cost and movement\nschedules across transport corridors. <\/p>\n\n\n\n
For increasing collaboration and cooperation between Small\nand Medium Businesses in India and Russia, the roundtable recommended setting\nup of nodal points of interaction between the two countries. Ensuring access to\nfinance, seamless digital banking, access to E-markets and broad-based\nengagement across sectors were also discussed.<\/p>\n\n\n\n
The roundtable on Agriculture and Agro-processing noted the\ndynamic nature of agriculture, livestock rearing and food processing in both\ncountries and the immense opportunities of cooperation. Recommendations\nincluded closer communication between the respective agriculture ministries to\nstreamline collaborative efforts. Reciprocity in terms of acceptance of\ncertification, deployment of AI-backed frontline technologies and software were\nalso under discussion.<\/p>\n\n\n\n
The roundtable on Tourism and Connectivity highlighted the\nneed to increase bilateral tourism and exploring natural avenues for economic\nand commercial partnerships. Expanding visitor itineraries for both countries,\nand creating more products for tourist interest such as yoga and medical\ntourism were also considered. Working towards improving regional connectivity\nand improving government and industry cooperation was also discussed. <\/p>\n\n\n\n
The roundtable on Industrial Trade and Cooperation saw\nparticipation across industries in energy, finance and industries, which\nemphasised awareness exchange between the two countries in areas of investment opportunities.\nExploring better Business-to-Business communication and collaboration,\ngenerating greater investment flows through public and private cooperation in\nan organised way were also discussed. <\/p>\n\n\n\n
The IRSED was established following a bilateral Memorandum of\nUnderstanding (MoU) signed between NITI Aayog and the Ministry of Economic\nDevelopment of the Russian Federation during the 19th<\/sup> edition of the\nAnnual India-Russia Bilateral Summit, which was held on October 5, 2018, in New\nDelhi. <\/p>\n\n\n\n The First India-Russia Strategic Economic\nDialogue was held in St. Petersburg between November 25-26,\n2018, and was chaired by Mr. Maxim Oreshkin, Minister of Economic Development\nof the Russian Federation, and Dr. Rajiv Kumar, Vice-Chairman, NITI Aayog. <\/p>\n\n\n\n Actionable framework shall be worked out\nand included in the joint statement to be released soon. <\/p>\n","protected":false},"excerpt":{"rendered":" The Second India-Russia Strategic Economic Dialogue (IRSED) was in New Delhi, under the chairmanship of Dr. Rajiv Kumar, Vice-Chairman, National Institution for Transforming India (NITI) Aayog and Mr. TimurMaksimov, Deputy Minister of the Economic Development of the Russian Federation. The Second meeting of the IRSED focussed on six core areas of cooperation, namely, Development of […]<\/p>\n","protected":false},"author":13,"featured_media":3649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[58],"offerexpiration":[],"class_list":["post-3648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-international-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=3648"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3648\/revisions"}],"predecessor-version":[{"id":3650,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/3648\/revisions\/3650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/3649"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=3648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=3648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=3648"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=3648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}