The decision was made at a meeting between Home Minister Rajnath Singh and his visiting Russian counterpart Vladimir Kolokoltsev, said a home ministry statement.
"The two sides agreed to set up an expert group on cyber security and counter-terrorism. There will be sharing of experiences in the field of specialized training and exchange of experts," it said.
Condemning terrorism which poses a "serious threat" to the international community at large, and terming the threat of IS as "a matter of serious concern", Rajnath Singh stressed on close cooperation and exchange of information between India and Russia and monitoring the activity of IS particularly in the field of media to counter its extensive propaganda by the ISIL and in cyber space to combat online recruitment.
In addition, both sides discussed the six existing agreements in the field of security cooperation and disaster management.
The agreement, signed in 1993, on cooperation and interaction between Russia's ministry of security and India's home ministry is being revised and a fresh agreement is being formulated for consideration of Russia, said Rajnath Singh.
He also told Kolokoltsev that India is looking to expand the extensive bilateral cooperation and partnership under the framework provided by the Druzba-Dosti joint declaration issued during the annual summit between Prime Minister Narendra Modi and President Vladimir Putin in 2014.
The two nations also agreed for promotion of tourism with Rajnath Singh noting that e-tourist visa facility has been extended to Russia in November 2014 and requested for the similar facility on the basis of reciprocity, the statement said.
Kolokoltsev assured him in this regard and mentioned that the two countries will work in close coordination in this field, it added.
The discussion covered a wide range of issues, including law enforcement activity in Russia and India, areas for joint cooperation, measures against extremism, acts of crime in the sphere of high technologies and IT, cooperation in the field of drug control and the existing agreements between India and Russia.
Minister of State for Home Kiren Rijiju and other officials were also present.