Visit of India’s External Affairs Minister to Russia | Current Affairs | Vision IAS
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The Minister also co-chaired 26th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC)

  • IRIGC-TEC is a mechanism set up in May 1992 for regularly monitoring bilateral progress across the sectors of trade and economic cooperation. 

Key Highlights of the visit:

  • Economic: Timely finalization of Programme of Economic Cooperation till 2030  and early conclusion of the India-Eurasian Economic Union FTA, a key element for revised bilateral trade target of USD 100 billion by 2030 were discussed.
  • Regional issues such as developments in Ukraine, West Asia, Afghanistan were discussed . EAM reiterated India’s approach to emphasize dialogue and diplomacy as essential to resolving differences
  • Removing bottlenecks in logistics and promoting connectivity: It included the International North-South Transport Corridor, Chennai–Vladivostok Eastern Maritime Corridor, Northern Sea Route.
  • Global and Multilateral Cooperation: Both sides reaffirmed commitment to reform global governance, deepen collaboration in G20, BRICS, SCO & stressed the need to expand and revitalize the UN Security Council to reflect present-day realities.

India-Russia Relations

The relationship is characterized as a "Special and Privileged Strategic Partnership” encompassing extensive cooperation across various domains:-

  • Institutional Mechanisms: Annual Summit between the Prime Minister of India and the President of the Russian Federation is the highest institutionalized dialogue mechanism. Foreign and Defence Ministers of both countries participate through 2+2 Dialogue
  • Trade and Economic Relations: Bilateral trade reached $65.70 billion in FY 2023-24 surpassing the previous $30 billion target set for 2025.
  • Deep Defence and Security Cooperation: Key projects include supply of S-400, BrahMos missiles, joint exercises(INDRA) etc.
  • UNSC Reform: Russia has consistently expressed support for India’s candidature for a permanent seat at the UNSC."
  • Science Technology, and Space Collaboration: Kudankulam Nuclear Plant ,Gaganyaan Mission
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