The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the Memorandum of Understanding (MoU) between India and Russia on Bilateral Cooperation in the Road Transport and Road Industry.
The MoU will be signed during the upcoming visit of Russian President to India.
In order to develop and establish formal platform for cooperation in the Transport and Highways sector, a Memorandum of Understanding in the field of Road Transport and Road Industry has been jointly negotiated and finalized by both countries.
Both the nations will benefit by mutual cooperation in the field of Road Transport and Road Industry.
Increased co-operation, exchange and collaboration with Russia will contribute to establish a long-term and effective bilateral relationship of communication and cooperation in road transportation and road industry and Intelligent Transport System (ITS). This will also help in planning and administration of road infrastructure and road network management, transport policy, technologies and standards for the construction and operation of highways in the country and will further go a long way in strengthening ties and bilateral relations between India and Russia.