Indian delegation at EEF to expand presence in resource-rich Russian far East

India will depute a high-level delegation to the Eastern Economic Forum (EEF) to be held in Vladivostok between September 3-6 eyeing to expand its presence in the region that is endowed with natural resources, including fossil fuel, coal and critical minerals among other items.

The Modi government may depute a Cabinet Minister to lead the delegation to the EEF that would also focus on maritime transport corridors.

Following the annual summit in Moscow in July, the two sides are expediting complete implementation of Vladivostok-Chennai Eastern Maritime Corridor and linking it with the resource rich Arctic region. India-Russia also plans a joint shipbuilding project for maritime trade, it has been learnt.

India has plans for a trans-shipment hub in the Bay of Bengal. While Vladivostok-Chennai Eastern Maritime Corridor has started functioning, additional infrastructure need to be put in place in Chennai for handling additional trade volume. In 2023, Shipping Minister Sarbananda Sonowal represented India at EEF.

PM Narendra Modi and President Vladimir Putin had, at the annual summit, decided to intensify trade and investment cooperation in the Far East and the Arctic zone of the Russian Federation.

New Delhi and Moscow have signed a Program of India-Russia cooperation in trade, economic and investment spheres in the Russian Far East for 2024 -2029, as well as of cooperation principles in the Arctic zone of the Russian Federation. The Program of Cooperation will provide the necessary framework for further cooperation between India and the Russian Far East region.