The Union Cabinet, chaired by Prime Minister Narendra Modi, 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.
The main objective of this MoU is to extend mutual cooperation for technological collaboration on exploration for deep-seated and / or concealed mineral deposit; analysis and interpretation of the aero-geophysical data; PGE and REE Exploration and Research; Joint development of the Indian Geoscience Data repository with the Russian state-of-the-art Information Technology; exchange of technology & knowledge in the field of drilling, sampling and laboratory analysis to achieve data accuracy, and cost optimization; and training and capacity building of scientific personnel etc., between “both the parties in the fields of Geosciences.
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 GSI and ROSGEO in the field of Geosciences.