What happened?
On 9 April 2025, India and Russia convened the 8th Session of the Working Group on Priority Investment Projects (IRWG-PIP) in New Delhi under the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation. The meeting was co-chaired by Amardeep Singh Bhatia, Secretary, Department for Promotion of Industry and Internal Trade, and Vladimir Ilichev, Deputy Minister of Economic Development of the Russian Federation.
During the session, both sides signed a protocol outlining six new strategic projects aimed at expanding investment cooperation. These projects are expected to enhance collaboration in key sectors of mutual interest. The Working Group also reviewed progress from the previous session and reaffirmed commitment to strengthening economic linkages.
Alongside the meeting, the 2nd Edition of the India-Russia Investment Forum was held in collaboration with Invest India, the Indian Chamber of Commerce, and Russia’s Ministry of Economic Development. The forum attracted participation from over 80 businesses, including entrepreneurs, financial institutions, and logistics companies from both nations.
Why it matters to India
The inclusion of new strategic projects signals a renewed push to deepen India-Russia economic engagement amid evolving global trade dynamics. Strengthening investment ties with Russia enables India to diversify its economic partnerships and foster collaboration in priority sectors, potentially including energy, infrastructure, logistics, and manufacturing.
The participation of Indian and Russian industry representatives reflects growing private sector interest in bilateral opportunities. Forums like IRWG-PIP and the Investment Forum also complement India’s broader efforts to attract FDI and enhance industrial partnerships under the ‘Make in India’ and infrastructure development agendas. Amid geopolitical shifts, sustained economic cooperation with Russia also supports India’s pursuit of strategic autonomy and balanced global relations.