Cabinet okays pact with Russia on social, economic cooperation

New Delhi : The Union Cabinet on Wednesday approved 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 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.