New Delhi, Sep 26 (UNI) The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday gave its approval for signing of a Memorandum of Understanding (MoU) between National Institute for Transforming India (NITI) Aayog, and Ministry of Economic Development of the Russian Federation (MEDRF) in the field of social, economic, industrial and regional development programmes.
The objective of the MoU is to explore the potential of cooperation in the framework of preparation and implementation of strategies and programmes of social, economic, industrial and regional development.
It provides a framework and enabling environment to understand each other’s strengths, market, technologies, policies among others.
The MoU covers conducting and execution of joint research projects related to issues of mutual interest;
exchange of information and research works related to issues of mutual interest between the two sides, including information on government strategies and development programs.
It also includes visits of relevant specialists of both sides for participation in joint events; organisation of seminars, conferences and other meetings on agreed agenda and other forms of cooperation as per mutual consent of the sides, according to an official statement here.