After the official announcement of the India-Middle East-Europe Economic Corridor during the recent G20 summit. India is now directing its focus toward strengthening connectivity initiatives with Russia in the Far East and Arctic Region.

As part of this strategic partnership, India and Russia are actively considering the utilization of alternative transport routes, including the Northern Sea Route and Eastern Maritime Corridor (EMC), to elevate their maritime cooperation.

India is actively pursuing ways to operationalize the Eastern Maritime Corridor and spanning Vladivostok to Chennai, with the aim of facilitating the trading and transportation of crucial commodities. These commodities include coking coal, oil, and liquefied natural gas, in collaboration with Russia.

Furthermore, the nation is earnestly investigating the feasibility of utilizing emerging corridors, notably the Northern Sea Route, to advance its strategic trade interests.

India's Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, confirmed in an official statement that the agreement was forged during a meeting with Moscow's Minister for the Development of the Far East and Arctic, AO Chekunkov, held in Vladivostok, Russia.

On the basis of reports by Reuters, both nations have agreed to provide training for Indian seafarers in polar and Arctic waters, which will take place at the Russian Maritime Training Institute. It is worth noting that the institute offers state-of-the-art simulator facilities.

Meanwhile, India and Russia have expressed their unwavering commitment to enhancing their strategic cooperation across multiple sectors, underscoring their enduring partnership.

"We remain committed to maintaining strong ties (with Russia) and fostering strategic cooperation across various sectors," said the Indian minister in a statement.

"The operationalization of the Eastern Maritime Corridor (EMC) will usher in a new era of trade relationship between India and Russia," said Sonowal.

Chekunkov said, “Russia seeks to develop relations with Indian partners in the Far East in all areas of mutual interest."

According to a statement from India's shipping ministry, Sonowal has extended an invitation to host an Indo-Russian workshop concerning the Eastern Maritime Corridor (EMC).

"Sonowal was addressing the session aimed at forging possibilities for early operationalization of the EMC as an alternative trade route between the Russian port city of Vladivostok and the Indian port city of Chennai. The workshop is proposed to take place from 30 October to 1 November 2023 in Chennai, India," said the shipping ministry.

According to reports, the Eastern Maritime Corridor (EMC) is anticipated to substantially reduce transit time between Indian and Russian ports within the Far East Region. This reduction could potentially amount to up to 40%, diminishing the current 40-day transit period to just 24 days.

Despite Russia's year-long conflict with its neighbour Ukraine, India has steadfastly maintained a close relationship with Russia. Based on reports, the trade volume between the two nations has surged to record-high levels, with Indian imports of Russian oil significantly contributing to this increase.

Image source: PIB