How Will ASSOCHAM and Roscongress Enhance India-Russia Joint Ventures?
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Synopsis
In a significant move to strengthen economic ties, the Roscongress Foundation and ASSOCHAM have inked a cooperation agreement aimed at enhancing India-Russia joint ventures and innovation. This strategic partnership promises new business opportunities and deeper connections between the nations, setting ambitious trade targets for the future.
Key Takeaways
- Strengthened Economic Partnership: The agreement aims to enhance economic ties between India and Russia.
- Joint Initiatives: Focus on sectors like exports, investments, and technology exchange.
- Ambitious Trade Targets: Goals set for $50 billion investments by 2025 and $100 billion trade by 2030.
- High-Level Engagements: Includes forums, conferences, and business delegations for better collaboration.
- Enhanced Connectivity: Aims to foster deeper connections between Indian and Russian enterprises.
In New Delhi on December 5, the Roscongress Foundation and the Associated Chambers of Commerce & Industry of India (ASSOCHAM) officially established a collaboration agreement aimed at enhancing the economic ties between India and Russia.
Under the terms of the MoU, both organizations will collectively promote the advancement of significant initiatives in sectors including exports in priority areas, investment opportunities, and technology sharing.
This strategic partnership sets a robust framework for fostering long-term, mutually advantageous cooperation across diverse sectors, according to an ASSOCHAM announcement.
The goal of this collaboration is to enhance economic engagement, create new business prospects, and facilitate deeper connections between Indian and Russian businesses.
Recognizing the increasing significance of India-Russia economic relations, the institutions will work synergistically to improve connections among experts, business leaders, and policy makers, thus creating stronger avenues for dialogue and partnership.
The two organizations will also engage in high-level interactions, including forums, conferences, exhibitions, and business delegations, to promote bilateral discussions and encourage greater industry involvement.
This encompasses coordinated promotion of initiatives through official communication channels, ensuring extensive visibility while adhering to confidentiality standards agreed upon by both parties.
The agreement also includes ongoing information exchange, regular consultations, and structured coordination to assess current activities and discover new collaboration opportunities.
During a press conference alongside Russian President Vladimir Putin, Prime Minister Narendra Modi announced that India and Russia have agreed on an economic cooperation program aimed at boosting trade by 2030.
"We are striving for a swift conclusion of the FTA with the Eurasian Economic Union. India and Russia have confirmed an economic cooperation program to enhance trade until 2030," PM Modi stated following discussions with President Putin.
Both nations are working towards ambitious goals set by their leaders, targeting $50 billion in mutual investments by 2025 and $100 billion in annual bilateral trade by 2030.
Point of View
The agreement between Roscongress and ASSOCHAM marks a crucial step in enhancing India's economic landscape. Strengthening ties with Russia could lead to increased investments and trade, fostering greater opportunities for Indian businesses while also ensuring sustainable economic growth.
NationPress
05/12/2025
Frequently Asked Questions
What is the purpose of the ASSOCHAM and Roscongress MoU?
The MoU aims to enhance economic collaboration between India and Russia by supporting initiatives in exports, investments, and technology exchange.
What are the targets set by India and Russia for trade and investments?
India and Russia aim for $50 billion in mutual investments by 2025 and $100 billion in annual bilateral trade by 2030.
How will the partnership between ASSOCHAM and Roscongress benefit businesses?
The partnership will create more business opportunities, improve connectivity between Indian and Russian enterprises, and facilitate greater industry participation.
What sectors will the cooperation agreement focus on?
The agreement will focus on high-priority areas such as exports, investments, and technological exchange.
What are the expected outcomes of this collaboration?
The collaboration is expected to enhance economic interaction and create a comprehensive framework for long-term cooperation across various sectors.
