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There is immense potential for cooperation between India and the Russian Far East in the field of energy, Prime Minister Narendra Modi has said.
“Along with energy, India has also made significant investments in the Russian Far East in the areas of pharma and diamonds,” Modi said in his address, delivered virtually, at the plenary session of the Eastern Economic Forum 2022 on Wednesday.
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Given complications in implementation, there will be no impact for now on Indian oil and gasRussia is hosting the four-day Eastern Economic Forum in Vladivostok, which started on September 5, 2022, focussing on contributing to building business ties between Russia and the countries of the Asia-Pacific region. It also seeks to attract investment flows and technological innovations into the Russian Far East.
Addressing Russian President Vladimir Putin and other guests at the event, the Prime Minister said that Russia could become an important partner for the Indian steel industry as well through the supply of coking coal and could also cooperate in the mobility of talent.
“Indian talent has contributed to the development of many developed regions of the world. I believe that the talent and professionalism of Indians can bring about rapid development in the Russian Far East,” he said.
Focus areas
The comments are important as it highlights India’s intention to continue cooperating with Russia in areas of mutual interest, including energy supplies, despite indirect pressure from the West to minimise its energy trade with the country.
On the Ukraine conflict, the Prime Minister said that India had stressed the need to take the path of diplomacy and dialogue from the beginning of the attack. “We support all peaceful efforts to end this conflict. In this regard, we also welcome the recent agreement concerning the safe export of cereals and fertilisers,” Modi said.
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