India News | Cabinet Approves Pact Between Russia, India for Cooperation in Field of Geosciences

New Delhi, Sep 8 (PTI) The Cabinet on Wednesday approved the signing of a pact between Russia and India for cooperation in the field of geosciences.

The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

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"The Union Cabinet...has approved the signing of Memorandum of Understanding (MoU) on cooperation in the field of Geosciences between the Joint Stock Company Rosgeologia (State holding Company) (referred to as ROSGEO), a legal entity incorporated under the laws of the Russian Federation and the Geological Survey of India (GSI), Ministry of Mines, Government of India," an official statement said.

The main objective of this MoU is to extend mutual cooperation for technological collaboration on exploration for deep-seated and/or concealed mineral deposits, analysis and interpretation of the aero-geophysical data and joint development of the Indian Geoscience Data repository with the Russian state-of-the-art information technology.

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It also covers exchange of technology and knowledge in the field of drilling, sampling and laboratory analysis to achieve data accuracy, cost optimisation and training and capacity building of scientific personnel between both the parties in the field of geosciences, the statement said.

In view of the rich experience of ROSGEO and GSI and their potential of cooperation, this MoU is particularly beneficial in order to provide an umbrella framework for co-operation between both the bodies.

ROSGEO performs all types of geological prospecting and exploration activities, from regional surveys for all types of mineral resources to estimation of reserves and commissioning of the fields into operation.

It possesses unique competence in the area of offshore geological and on-shelf operations, the statement added.

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