Update : Second India-Russia Strategic Economic Dialogue

The Second India-Russia Strategic Economic Dialogue (IRSED) was organized in New Delhi. It was chaired by the Vice-Chairman of NITI Ayog, Dr. Rajiv Kumar and the Deputy Minister of Economic Development of Russian Federation, Mr. Timur Maksimov.

Focus Areas of Cooperation

The IRSED’s second meeting has focused mainly on six areas of cooperation which are Development of Transport Infrastructure and Technologies; Development of Agriculture and Agro-Processing sector; Small and Medium Business support; Digital Transformation and Frontier Technologies; Cooperation in Trade, Banking, Finance, and Industry; and Tourism & Connectivity.

What happened?

The Dialogue had several parallel roundtables. These roundtables discussed several areas of cooperation and discussed concrete roadmaps for future negotiations across outlined core areas.

The roundtables were attended by government officials, business leaders, and experts, bringing in diverse perspectives for ideation.

Origins of the IRSED

NITI Ayog and the Russian Ministry of Economic Development established the IRSED by signing an MoU during the 19th Edition of the 19th Annual India-Russia Bilateral Summit.

The previous edition of the IRSED was held in November 2018 in the city of the Saint Petersburg.

Indo-Russian relations

India and Russia have a privileged relation. India is one of the largest buyers of Russian Defense materials and the Nations have further collaborations in the field of atomic and hydrocarbon energy.