External Affairs Minister Sushma Swaraj launched the Russia Desk at the third Eastern Economic Forum in the Pacific port city of Vladivostok.
The Eastern Economic Forum this year is being held to present better conditions for doing business in the country's Far East in a bid to attract more foreign investment.
"External Affairs Minister Sushma Swaraj at the historic launch of Russia Desk, EEF 2017, Vladivostok, Russia," MEA spokesperson Raveesh Kumar tweeted.
Russian President Vladimir Putin will traditionally take part in the forum and speak at a plenary session dubbed "The Far East: Creating New Reality" on September 7.
Swaraj held talks with the Russian Minister of Natural Resources and Environment, Sergei Donskoi, and said that India-Russia ties are rock solid and will move forward.
Both the ministers met on the sidelines of the India-Russia Business Dialogue of the Eastern Economic Forum at Vladivostok in Russia on 7 September.
"The relationship between India and Russia is such that every Russian citizen has valuved ties with India and I want to take that deep relationship forward," Sushma said.
The External Affairs Minister also held a bilateral meeting with Russian Foreign Minister Sergei Lavrov and discussed ways to take the economic ties forward.
She added that the dialogue should aim to bridge knowledge gap between businesses of both countries, adding that India was keen to expand its economic ties with Russia's resource-rich Far East and sought the Russian Government's assistance in facilitating Indian investors in the region.
Swaraj further said under the 'Make in India' and 'Start-up India' programmes, the Indian Government has made concerted efforts to attract technology, investments and best practices from around the world.
"The business dialogue between the two nations should exist to identify areas of common interest and potential with focus on mutual strengths and complementarity," Swaraj said, while speaking on the occasion in Russian port city Vladivostok.
Swaraj said that there is a need for enhancing trade, commerce and investment with the Russian Far East to achieve the target of 30 billion U.S. dollars by the year 2025.
Attaching importance to the opportunities in the Russian Far East, and to its strategic partnership with Russia, Sushma said, "The Russian Far East is one of the richest regions in the world and India is among the fastest growing large economies of the world. There is lot that can be done together. When other markets are closing we need to find new ones and create virtuous cycles of investment. Investment is in the ultimate analysis an act of faith."
The EEF is considered as the biggest international communication platform for cooperation between businesses leaders and senior government representatives from Russia, the Pacific Region and the Association of Southeast Asian Nations (ASEAN).