Moscow: Secretary at the Department for Promotion of Industry and Internal Trade of the Ministry of Commerce and Industry Rajesh Kumar Singh, India's Ambassador to Russia, Vinay Kumar, and Russian Deputy Minister of Economic Development Vladimir Ilyichev attended the first India-Russia Investment Forum.

The event was organized by the Department for Promotion of Industry and Internal Trade of the Ministry of Commerce and Industry in collaboration with the Indian Embassy in Moscow and Invest India. More than 270 Indian and Russian business representatives, entrepreneurs, financial institutions, industry associations and government officials engaged in the Investment Forum.

In a post on X, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry stated, "@DPIITGoI in collaboration with @IndEmbMoscow & @InvestIndia organised the first India-Russia Investment Forum, featuring addresses from Mr. Rajesh Kumar, Secy, DPIIT, Ambassador @vkumar1969 & Mr. Vladimir Ilyichev, M/o Economic Development."

"Over 270 Indian and Russian business representatives, entrepreneurs, financial institutions, industry associations & Govt. officials engaged in the Investment Forum. This was succeeded by a B2B session between the Indian delegation led by @FollowCII & their Russian counterparts," it added.

On April 26, the 7th session of the Working Group on Priority Investment Projects under the IRIGC-TEC mechanism, Co-Chaired by Rajesh Kumar Singh and Vladimir Ilyichev was held in Moscow.

Taking to X, the Indian Embassy in Moscow stated, "The 7th session of the Working Group on Priority Investment Projects under IRIGC-TEC mechanism, Co-Chaired by Mr. Rajesh Kumar Singh, Secretary (DPIIT) and Mr. Vladimir Ilyichev, Deputy Minister of Economic Development of the Russian Federation, was held in Moscow today. The sides discussed several ongoing and prospective projects for investment."

Secretary at the Department for Promotion of Industry and Internal Trade of the Ministry of Commerce and Industry Rajesh Kumar Singh has said that Russia's pivot to the East is "very profitable" for both nations keeping in view the high consistency of the two economies, Russia-based TASS reported.

Speaking at a forum in Moscow, Rajesh Kumar Singh said, "Russia's pivot to the East is very profitable for both countries considering high consistency of our economies when we speak about resources and technologies. And it is coherent with our focus on support of national producers and India's self-sufficiency."

He noted that Russia's focus on building closer economic and political ties with Asian nations will allow an increase in the volume of bilateral investment and more efficient creation of joint enterprises.

The official said, "We use strong points of the two countries for developing innovations, improving competitiveness and boosting trade volume," TASS reported.

Calling Russia India's "long-standing and reliable partner," he stated that the relations between the two nations are "based on the solid foundation of common interests and common values."

Earlier in 2023, the Russian Foreign Ministry said that the West's intractability and deceit boosted Russia's resolve to give priority to the southern and eastern vectors of its foreign policy, according to TASS report.

Russian Foreign Ministry made the statement on the results of Moscow's diplomacy for 2022. It said, "It has been clear to us for a while that the very existence of Russia as one of the basic systemic elements in the expansive Eurasian space is a problem for our opponents," TASS reported.

In a statement, the Russian Foreign Ministry stated, "However, history teaches again and again that any attempts to subvert Russia's statehood, to split society, moreover, to infringe on the country's territorial integrity only help to consolidate our people, encourage the continued course toward sovereignizing the key spheres of life. Meanwhile, the West's inability to negotiate and deceitfulness are being confirmed which boosts our resolve to prioritize the development of the southern and eastern vectors of foreign policy."

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