The treaty, ratified by the Duma and the Federation Council, makes it easier for workers from one country to take up jobs in the other<\/p>\n
Russia has completed the ratification of its labor agreement with India, with President Vladimir Putin signing the document on Monday. The pact, which eases the procedures for hiring temporary employees, comes as Moscow seeks more Indian workers to address labor shortages.
\nThe State Duma approved the pact on October 1, followed by the Federation Council a day later.
\nThe agreement covers Indians working in Russia and Russians employed in India under employment or service contracts. It also applies to full-time students taking temporary jobs outside their studies.
\n\u201cThe agreement is clearly significant for Russia as there is a need for manpower, both qualified and unqualified,\u201d a research fellow at the Center of the Indo-Pacific Region, Institute of World Economy and International Relations of the Russian Academy of Sciences, Gleb Makarevich, told RT. \u201cFor India, it creates opportunities to export labor, increase remittance inflows, and somewhat ease the social burden on the country\u2019s broader system of governance.\u201d\u00a0 \u201cWith this agreement we can clearly see the institutionalization of the cooperation on labor mobility between the two countries, and we can expect a further increase in the number of Indian workers going to Russia,\u201d he added.
\nRussian authorities have estimated an immediate shortage of at least 2.3 million workers in the country. Sberbank, its largest bank, has called for easier entry procedures for Indian workers to help address shortages in the construction industry.
\n“Russia is facing a labour shortage, which has become the main factor holding back economic development,\u201d researchers at the India Lab at the Moscow School of Management, Igor Gundobin and Lydia Kulik, wrote in a report titled \u2018Human Capital in India and Russia: In Search for Complementarity\u2019.
\n\u201cIndia sees itself as a talent pool for the global economy for the coming decades and is actively pursuing the opportunities for educational and labour migration with all its key partners.
\n\u201cThe strategies of India and Russia are thus complementary, and their demographic structures are mutually reinforcing,\u201d they added.<\/p>\n
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Russia ratifies employment pact with India<\/p>\n
Moscow has agreed to accept around 70,000 skilled Indian workers in 2026, Indian Foreign Minister S. Jaishankar told a parliamentary panel earlier this month.
\nThe labor agreement was signed in New Delhi last December during Putin\u2019s visit to India. The two countries also signed a separate accord to combat irregular migration and approved a program to expand economic cooperation through 2030.
\nWorkers will still need employment permits and must work in the jobs for which those permits were issued. The agreement requires foreign employees to receive pay and working conditions no less favorable than those offered to local workers in comparable positions.
\nEmployees laid off because of business closures or staff reductions will be entitled to compensation under local laws. Pension, social security, and medical insurance provisions will also be governed by host-country legislation and applicable bilateral agreements.
\nThe agreement will formally take effect once both governments complete the required domestic procedures and exchange written notifications.<\/p>\n","protected":false},"excerpt":{"rendered":"
The treaty, ratified by the Duma and the Federation Council, makes it easier for workers from one country to take up jobs in the other Russia has completed the ratification…<\/p>\n","protected":false},"author":1,"featured_media":39786,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[4,6,3],"tags":[],"class_list":["post-39785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-environment","category-politics"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t