A forum representing Indian medical device makers has joined hands with a Russian trade organisation to promote bilateral trade in the segment.
The Association of Indian Medical Device Industry (AIMED) and the Centre for the Development of Russia Strategic Partnership (DRISP) signed a Memorandum of Understanding (MoU), even as authorities in the two countries project an overall $30 billion mutual trade by 2025, an AIMED note said.
Rajiv Nath, AIMED forum-coordinator, said the collaboration would help promote trade and investment, besides bolstering development and the exchange of technology. According to St Petersburg International Economic Forum (SPIEF), India-Russia trade hit a record $39.8 billion in 2022–23, the note added.
Prasun Prakash, Public Affairs Director, DRISP, said the organisations would exchange information on economic and commercial matters, trade, investment and technology transfer opportunities, besides trends.