Now, cooperation is not limited to a buyer-seller relationship, but includes joint research and development, training, service-to-service contacts, including joint exercises. The last joint naval exercises were held in the Sea of Japan in April 2007 and joint air exercises were held in Russia in September 2007. An intergovernmental commission on military-technical cooperation is co-chaired by the defence ministers of both countries. The seventh meeting of this government commission was held in Moscow in October 2007. During the visit, an agreement was signed between the two countries on the joint development and production of potential multi-purpose fighters. However, the events that followed deepened the strategic partnership between Russia and China, as political, economic and strategic interests were linked, while a similar engagement was not made with other Asian countries. India is by no means an exception to Russia`s broader political disadvantage in Asia. However, given that Russia has a long history of relations with India since its independence, unlike East Asia, where it was largely sidelined during the Cold War, there are insufficient bilateral reasons as to why the potential of the strategic partnership has not been exploited. In this case, Russian-Russian relations were an important factor. 2. A number of institutionalized mechanisms at the governmental and non-state level contribute to the development of economic cooperation between the two countries.
While India`s Intergovernmental Commission for Trade, Economic and Cultural Cooperation (IRIGC-TEC) is leading the implementation of economic cooperation at the governmental level, the Indorussic Forum for Trade and Investment and the Ceo Council India-Russia have become platforms to facilitate direct interactions between the two countries in B2B. 14. In the pharmaceutical sector, where India has proven to be a reliable supplier of high-quality generic drugs to Russia, the potential for increased cooperation is promising. As part of the Russian government`s Pharma 2020 programme, which aims to develop the domestic production base, India`s leading pharmaceutical companies have begun cooperating with Russian partners to explore joint investment opportunities. Several B2B agreements have been concluded and an agreement has been reached between the Central Drug Standard Control Organization of India and the Federal Health Care Surveillance and Social Development Service of the Russian Federation to ensure the quality, safety and efficacy of medicines in order to facilitate future cooperation in this sector. The two sides also signed the “Strategic Vision to Strengthen Cooperation in the Peaceful Use of Nuclear Energy” in 2014 and agreed in 2016 on the “Partnership for World Peace and World Peace.” In early 2019, Russia awarded the Order of St. Andrew the Apostle to Prime Minister Modi for his “outstanding contribution to the development of a privileged strategic partnership between Russia and India and friendly relations between the Russian and Indian peoples.”  At the beginning of Vladimir Putin`s presidency in 2000, when the annual summits between India and Russia were launched, efforts were again made to strengthen bilateral relations. In 2010, as the declaration on the strategic partnership between the two countries marked a year of the “Strategic Partnership Declaration,” the joint statement announced that the relationship had reached “the level of a special and privileged strategic partnership.”  8. Both governments have taken initiatives to encourage bilateral investment, including facilitating high-level government contacts for businesses and businesses, outside of the ongoing investment process in strategic sectors in both countries. Investment cooperation is planned in certain priority sectors, such as hydrocarbons, electricity, coal, nuclear power, fertilizers, computer science, pharmacy, metallurgy and metallurgy.