The Department of Science and Technology, Government of India and the Ministry of Economic Development of the Russian Federation signed a joint declaration recently to stimulate cooperation in the field of promoting innovation ecosystem between the two countries. The declaration was signed on the sidelines of the Global R&D Summit 2017 organized by The Department of Science and Technology, Government of India and Federation of Indian Chamber of Commerce and Industry (FICCI) in Bengaluru. Stating that India and Russia are natural partners on innovation, Ashutosh Sharma, Secretary, Department of Science and Technology said “with increased people to people contact we will take the relations to new heights through this Joint Declaration.” Signing the declaration, Fomichev Oleg Vladislavovich, State Secretary-Deputy Minister of Economic Development of the Russian Federation spoke of the long running India-Russia partnerships and particularly stressed on the need to extend the collaborations in developing innovation capabilities for various sectors. As per the declaration, the two countries will strive to deepen cooperation to promote innovation and technology entrepreneurship through promotion of the development of long-term cooperation, co – innovation and direct contacts between Russian and Indian Innovation clusters and also business associations, techno-parks, business-incubators, high-tech companies, start-up enterprises, educational and research institutions. The National Science and Technology Entrepreneurship Development Board of the Department of Science and Technology, Government of India will be responsible for the implementation of the joint declaration from the Indian side. The two sides also agreed to implement joint projects in the field of innovation and exchange of information, as well as best practices in the innovation space.
Subscribe to our newsletter to receive the latest breaking news and business stories in India