Thursday, September 8 2005 15:42 Hrs (IST) - World Time -

Moscow: India and Russia have agreed to pool their resources for implementing joint projects in cutting-edge technology to serve their scientific and technological priorities.

This understanding was reached during Union Minister of Science and Technology and Ocean Development Kapil Sibal's talks in Moscow with Russia's Education and Science Minister Andrei Fursenko during their talks here yesterday (Sept 7, 2005).

"The sides noted that favorable conditions existed for expanding interaction in the areas of bio-technology, nano-technology and information technology. They were in favour of concentrating their financial resources on joint projects which would serve the interests of national scientific & techno logical priorities," an Indian Embassy release said.

Sibal, who arrived here on Monday on a week-long Russia visit, discussed the matter of improving the mechanisms of commercialization and transfer of technology generated within the framework of ILTP and reached an agreement in principle for drawing up mutually agreed proposals to set up an Indo-Russian Technology Center.

India and Russia have an ILTP of scientific and technological cooperation involving thousands of scientists in the best labs and research institutes of both countries.

In view of the growing significance of science and technology in the overall scheme of bilateral relations, the Sibal and Fursenko agreed to hold annual inter-ministerial meetings to review the practical issues of cooperation in the field of science and technology and innovations.

Initially signed in 1985 by the then Prime Minister Rajiv Gandhi and Soviet President Mikhail Gorbachev ILTP withstood the collapse of the USSR and has been extended till 2010 by subsequent Governments in both countries.

The issue of establishing interaction between young scientists of India and Russia was also discussed in detail during Sibal-Fursenko meeting.

It was proposed to examine the possibility of holding regular workshops, conferences and seminars in which they would participate.

This kind of interaction would not only promote the growth of academic mobility amongst young scientists, but would also strengthen bilateral ties in the area of science and technology for a long time to come.

To maintain the momentum ahead of Indo-Russian summit later this year Sibal has invited Russian Minister of Education and Science to make an official bilateral visit to India on the occasion of the 7-8 November 2005 Global R&D Summit 2005.