On Monday, Russian Deputy Prime Minister Denis Manturov, who is also the nation’s Minister of Industry and Trade arrived in New Delhi to co-chair the Intergovernmental Russian-Indian Commission. Which has mainly aimed to increase trade ties between the two countries. As per the official Twitter handle of the Russian Embassy, post, “Denis Manturov landed in the Republic of India on a working trip. On April 17, Deputy Prime Minister of the Russian Federation – Minister of Industry and Trade of the Russian Federation Denis Manturov reached for a two-day working visit to the Republic of India, New Delhi.”

Deputy PM Manturov firstly participated in the 24th India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC). The IRIGC is the prime institutional mechanism to manage economic cooperation. It consolidates six working groups on trade and economic cooperation, industrial modernization, tourism, energy, culture science and technology. A  general meeting of the intergovernmental commission (IGC) will be scheduled on Tuesday, subsequent of these co-chairs will sign the final agreement of the 24th IGC assembly.

Both sides of the government plan to consider the issues of bilateral trade and economic and humanitarian cooperation. The Deputy PM will also carry out many bilateral conferences, the Russian official said in the tweet. The main emphasis of meetings, enhancing several institutionalised mechanisms, has been set up for the development of economic cooperation between the two nations. The central institution at the government stage is IRIGC-TEC. 

Both countries reviewed the improvement achieved in the many Working Groups and Sub-Group Meetings under the pipeline of  IRIGC-TEC which will be held in New Delhi. The Intergovernmental Commission is a system for continuously observing bilateral progress across the major sectors of trade and economic cooperation between Russia and India.  This Intergovernmental Commission was established by a consensus on the Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation signed in May 1992.