PM Modi advocates strengthening economic ties with Russia

Sandeep Dikshit

New Delhi, September 7

Despite continuing western pressure, Prime Minister Narendra Modi on Wednesday spelt out India’s keenness to expand trade, connectivity and investments with Russia.

“India is keen to strengthen its partnership with Russia on Arctic subjects. There is immense scope for cooperation in the field of energy. Along with energy, India has also made significant investments in the Russian Far East in the fields of pharmaceuticals and diamonds,” said the prime minister while speaking virtually at the 7th Eastern Economic Forum being held in Vladivostok.

Russia, he said, can become an important partner for the Indian steel industry through the supply of coking coal. “We can also have good cooperation in the mobility of talent. Indian talent has contributed to the development of many resource-rich regions of the world. I believe that the talent and professionalism of Indians can bring about rapid development in the Russian Far East,” suggested the PM.

In fact, if the Ukraine conflict had not intervened, India was poised to send 2,000 skilled workers in April to work in Russian shipyards and timber logging operations.   

“Whether we talk about the International North-South Corridor, the Chennai-Vladivostok Maritime Corridor or the Northern Sea Route, connectivity will play an important role in the development of our relations in future,” he observed.

The PM’s unequivocal call to continue and strengthen economic ties with Moscow comes amidst continuing efforts by the US and the European Union to wean India away from Russian oil.

In this regard, US Deputy Secretary for Treasury Wally Adeyemo was here a few days back and discussed the energy markets with Finance Minister Nirmala Sitharaman, principal secretary to the PM PK Mishra, Finance secretary Ajay Seth, Foreign secretary Vijay Kwatra, and Petroleum secretary Pankaj Jain.

The prime minister briefly touched on the Ukraine conflict which along with the covid pandemic, he said, has had a major impact on global supply chains.

“Foodgrain, fertiliser and fuel shortages are of great concern to developing countries. From the very beginning of the Ukraine conflict, we have emphasised the need to adopt the path of diplomacy and dialogue. We support all peaceful efforts to end this conflict. In this regard, we also welcome the recent consensus on the safe export of cereals and fertilisers,” he observed.