India, Russia to jointly build innovation ecosystem

“As India and Russia are natural partners of innovation, the declaration will take the relations between the people of the two countries to new heights,” said Science and Technology secretary Ashutosh Sharma.

India and Russia on Friday signed a joint declaration to build an innovation ecosystem between the two countries.

Representatives of India and Russian at the Global R&D Summit 2017. (Facebook/Department of Science and Technology)

The declaration was inked by the Science and Technology, Department of India and the ministry of Economic Development of the Russian Federation on the margins of a Global R&D summit 2017 in Bengaluru.

“As India and Russia are natural partners of innovation, the declaration will take the relations between the people of the two countries to new heights,” said Science and Technology secretary Ashutosh Sharma on the occasion.

The declaration envisages the two countries to promote innovation and technology entrepreneurship through cooperation and direct contacts between Russian and Indian clusters and business associations, techno-parks, business-incubators, high-tech firms, start-up enterprises, educational and research institutions.

“We need to extend the collaborations in developing innovation capabilities for various sectors in the spirit of India-Russia partnerships,” said Russian deputy minister of Economic Development Fomichev Oleg Vladislavovich in a statement.

The two countries also agreed to implement joint projects in innovation and exchange information and best practices in the innovation space.

The two-day summit since Thursday was organised by the S&T Department and the Federation of Indian Chamber of Commerce and Industry (Ficci).