New Delhi - Saba:
The Indian Ministry of Commerce and Industry announced that India and Russia have expanded their cooperation in aluminum and fertilizer production, following the 11th session of the India-Russia Working Group on Industrial Modernization and Cooperation.
The ministry said in a statement that both sides welcomed the expansion of cooperation in aluminum and fertilizer production, rail transport, as well as capacity building and technology transfer in mining equipment, exploration, waste management, and industrial and domestic industries.
The statement indicated that key areas of cooperation included space science and technology, including the production of piston engines for small aircraft, as well as joint developments in carbon fiber technology, additive manufacturing, and 3D printing.
The two sides also discussed opportunities for cooperation in the mining of rare earth and strategic minerals, underground coal gasification, and the establishment of modern industrial infrastructure.
The statement confirmed that Russia and India renewed their commitment to deepening industrial and economic cooperation after the meeting.
This follows US President Donald Trump's earlier statement that he had informed India that he intended to refuse to purchase oil from Russia. Meanwhile, the Indian newspaper Mint reported, citing sources, that state-owned Indian oil refineries continue to purchase oil from Russian suppliers.
India is the world's third-largest energy importer, purchasing more than 80% of its oil consumption from global markets. Earlier, the Times of India reported, citing data from commodity market analytics firm Kpler, that India's imports of Russian oil rose to an 11-month high in June.