Cabinet approves Russia-India pact for cooperation in geosciences
Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Memorandum of Understanding (MoU) between India and Russian on cooperation in the field of Geosciences.
Key Points
MoU was signed between the Joint Stock Company Rosgeologia (State holding Company) of Russia and the Geological Survey of India (GSI), Ministry of Mines.
Objective of MoU
MoU was signed with the objective of extending mutual cooperation for technological collaboration for exploration of:
- Deep-seated & concealed mineral deposit
- Analysis & interpretation of aero-geophysical data
- PGE & REE Exploration & Research
- Joint development of Indian Geoscience Data repository with Russian Information Technology
- Exchange of technology & knowledge with respect to drilling, sampling and laboratory analysis to achieve data accuracy and cost optimization
- Training and capacity building of scientific personnel.
Background
A delegation of ROSGEO held meeting with Ministry of Mines and Geological Survey of India (GSI) in 2020 to discuss the perspectives of Cooperation in exploration works in New Delhi. During the meeting MoU was proposed to be signed between GSI and ROSGEO. Accordingly, GSI finalized the MoU in consultation with ROSGEO.
Joint Stock Company Rosgeologia (ROSGEO)
It is the largest geological State holding company of Russian Federation. The company has a developed production and technical capabilities, high professional competences as well as a unique scope of accumulated geological information. It performs all kinds of geological prospecting and exploration activities for mineral resources of all types. It also conducts estimation of the reserves and commissioning of fields into operation.
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Month: Current Affairs - September, 2021