The government on Thursday, September 28 approved a draft measure on signing an accord with India to promote economic investments.

According to Armenian deputy minister of economic development and investments Hovhannes Azizyan, Armenia expects to implement a number of projects with India, particularly in the fields of information technologies, textile and processing industries.

The agreement which, among other things, includes provisions on damage compensation and dispute resolution, will facilitate investments in both countries and guarantee protection for investors

India was one of the first countries to recognize Armenia's independence in 1991. Diplomatic ties between the two countries were established in August 1992.