New Delhi:The Union Cabinet was informed of an agreement between India and Russia on Wednesday. The India-Russia agreement states to provide competitive research grants to researchers.

The agreement provides grants to researchers of both the nations for joint implementation of research projects in areas of basic and exploratory sciences.

The agreement, signed in May 2015, is valid for a period of six years and could be extended by mutual consent between Department of Science and Technology (DST) and Russian Science Federation (RSF), an official statement said.

"This competition would be conducted in the areas of mathematics, computer and system science, physics and space science, chemistry and material science, biology and life science, basic research for medicine, agricultural science, earth science and engineering science," it said.

The Cabinet meeting was chaired by Prime Minister Narendra Modi.

The Decision to identify research projects for funding would be taken jointly by the DST and RSF, it added. Russia has been a key strategic partner of India since the Soviet times, with this, both countries take their bilateral relations in the area of science and technology further.

Russia is one the biggest arms exporter to India. This agreement also is a boost for PM's Make in India campaign.(IANS)