Cabinet approves agreement between India and Russia

The Union Cabinet on Wednesday approved the signing of an agreement between India and Russia for cooperation in the fields of social, economic, industrial and regional development programmes.

The memorandum of understanding (MoU) between India's NITI Aayog and Russia's Economic Development Ministry would explore the potential of cooperation in the framework of preparation and implementation of strategies and programmes in the said sectors, an official statement said.

"It provides a framework and enabling the environment to understand each other's strengths, market, technologies, and policies," it said.

According to the MoU, the two countries would conduct joint research projects and exchange information and research works related to issues of mutual interest, the statement said.