India declared its commitment to the “rapid development” of “the Russian Far East,” as announced (by video) by Prime Minister Narendra Modi to the 7th Eastern Economic Forum in Vladivostok yesterday. “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.”
Modi specifically referenced the International North-South Corridor, the Chennai-Vladivostok Maritime Corridor and the Northern Sea Route as projects that fall within the 2019 “Act Far-East” policy that he inaugurated three years ago. Since then, India’s cooperation with the Russian Far East has increased in various fields. “This policy has now become a key pillar of the ‘Special and Privileged Strategic Partnership’ between India and Russia.”
Further, “India is keen to strengthen its partnership with Russia on Arctic issues. There is also immense potential for cooperation in the field of energy. Along with energy, India has also made significant investments in the Russian Far East in the areas of pharma and diamonds.” Modi also cited the importance of Russia’s coking coal in partnering with India’s steel industry.
