On August 7, 2026, the 12th Session of the India-Russia Working Group on Modernization and Industrial Cooperation, operating under the Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation, was held in New Delhi. The session was co-chaired by the Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry of India, and the Deputy Minister of Industry and Trade of the Russian Federation. The parties reviewed a broad range of industrial cooperation areas — from railway infrastructure and aircraft projects to cooperation in critical minerals, fertilizers, aluminium, and unmanned systems. The protocol of the session was signed by the co-chairs of both sides.
Following the 12th Session of the India-Russia Working Group on Modernization and Industrial Cooperation under the Intergovernmental Commission, the meeting protocol includes an initiative to implement a joint project on developing non-financial co-investment infrastructure with the participation of IRP Technology, the operator of the Platform for Core Competencies Co-investment (PC³).
The inclusion of the initiative in the session protocol reflects growing interest in non-financial co-investment of core competencies as a mechanism for advancing cross-country industrial cooperation. This area is gaining further relevance amid the intensifying India-Russia economic track: in June 2026, the EAEU and India held the second round of negotiations on a free trade agreement, while the bilateral industrial cooperation agenda continues to expand. PC³ was previously included among the National Digital Platforms of the EAEU member states for cooperation, subcontracting, and technology transfer, creating a basis for scaling such initiatives within the Union and beyond.
