India and Russia are exploring deeper industrial cooperation in the power sector, with Moscow expressing interest in co-manufacturing electrical equipment in India. Power Secretary Pankaj Agarwal confirmed that the proposal is currently at a business-to-business (B2B) level, indicating early-stage but serious engagement between companies from both sides. The Russian side has proposed setting up joint manufacturing capabilities for power equipment, which could strengthen India’s domestic production and reduce import dependence. A Russian business delegation is expected to visit India in the coming months to take discussions forward. If materialised, the partnership could boost India’s power infrastructure ecosystem while enhancing bilateral industrial ties between the two countries.