India and Russia have decided to work together on six new important projects to boost investment between the two countries. This agreement was made during the 8th meeting of the India-Russia Working Group on Priority Investment Projects (IRWG-PIP), according to a press release.

The India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation hosted the meeting in the nation's capital on Wednesday. Its main objective was to promote joint initiatives in areas of shared interest. The session's co-chairs went over the results of the previous seventh session and signed a protocol outlining these programs. India and Russia talked about ways to boost their economic partnership and agreed to work together more on increasing investments. "The session was followed by the 2nd Edition of the India-Russia Investment Forum, organised in collaboration with Invest India, the Indian Chamber of Commerce (ICC), and the Ministry of Economic Development of the Russian Federation," the release stated.

More than 80 businesses actively took part in the forum, including entrepreneurs, financial institutions, cargo companies, business chambers, and officials from both India and Russia. The session was jointly led by Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade under India's Ministry of Commerce and Industry, and Vladimir Ilichev, Deputy Minister from Russia's Ministry for Economic Development. The significance of sustained collaboration in trade and investment to fortify their economic alliance was emphasised by both parties. India and Russia have shared a strong and trusted relationship for a long time. This partnership has always been an important part of India’s foreign policy. In October 2000, when President Putin visited India, both countries signed the "Declaration on the India-Russia Strategic Partnership," which marked a new phase in their ties. 

Since then, cooperation between India and Russia has grown in almost every field, including politics, security, defence, trade, economy, science and technology, culture, and people-to-people connections. Later, in December 2010, during another visit by the Russian President, this partnership was further upgraded to a "Special and Privileged Strategic Partnership."