The 11th Session of the India-Russia Working Group on Modernization and Industrial Cooperation convened in New Delhi, marking a significant step in strengthening the strategic partnership between the two nations. The meeting, held at Vanijya Bhawan, took place within the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.

The session was co-chaired by Shri Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, from the Indian side, and H.E. Mr. Alexey Gruzdev, Deputy Minister of Industry and Trade of the Russian Federation, from the Russian side. Approximately 80 delegates, including senior government officials, domain experts, and industry representatives from both countries, participated in the discussions.

The Working Group reviewed the progress achieved since the 10th session and identified opportunities to enhance cooperation across various key sectors. Updates were presented from sub-groups focusing on modernization, mining, fertilizers, and railway transport, along with discussions on emerging areas for collaboration.

A significant emphasis was placed on cooperation in aerospace science and technology, including the establishment of a modernized wind tunnel facility, the production of small aircraft piston engines, and collaborative development in carbon fiber technology, additive manufacturing, and 3D printing. Both sides also explored potential collaborations in the extraction of rare earth and critical minerals, underground coal gasification, and the creation of modern industrial infrastructure.

Enhanced engagement in the aluminum, fertilizers, and railway transport sectors was welcomed, alongside initiatives for capacity building and technology transfer in mining sector equipment, exploration, and industrial and domestic waste management.

The meeting concluded with the signing of the Protocol of the 11th Session by the co-chairs. This reaffirmed the strategic India-Russia partnership and a shared commitment to deepen industrial and economic cooperation.

The India-Russia Inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) serves as the primary G2G forum for bilateral economic cooperation. Several working groups operate under this commission to facilitate regular interaction and monitor cooperation activities.

Over the years, India and Russia have significantly strengthened their economic cooperation. Bilateral trade has reached unprecedented levels, increasing from $1.4 billion in 1995 to $68.7 billion in the Financial Year 2024-25. The two nations have also fostered stronger investment ties. As of October 2023, Indian investments in Russia were estimated at $16 billion, while Russian investments in India totaled around $20 billion. Both countries aim to increase the bilateral investment volume to $50 billion by 2025.