Ukraine war disrupted supply chains, says Modi, as India ‘keen’ to boost energy ties with Russia

PM Modi was virtually addressing the Eastern Economic Forum, being held in Russia's Vladivostok. In his speech, he said India wanted to work closely with Moscow in the Arctic region.

Prime Minister Narendra Modi virtually addresses the Plenary Session of 7th Eastern Economic Forum in Russia's Vladivostok, in New Delhi on 7 September 2022 | ANI Photo

New Delhi: Prime Minister Narendra Modi Wednesday said India will seek to strengthen energy ties with Russia and work closely with Moscow for the development of the Arctic region, even as he underlined that the Ukraine war disrupted supply chains.

“India is keen to strengthen its partnership with Russia on Arctic subjects. There is immense scope for cooperation in the field of energy and there is a huge potential in this area that remains untapped,” Modi said while virtually addressing the Eastern Economic Forum 2022, being held in the Russian city of Vladivostok.

He also sought the supply of coking coal from Russia that can help the growth of India’s steel industry.

Modi added that the Ukraine war and Covid pandemic have adversely impacted the global supply chains giving rise to shortages in food, fertilisers and fuel.

“Along with energy, India has also made significant investments in the Russian Far East in the fields of pharma and diamonds,” he said.

The PM also batted for “talent mobility” between India and Russia’s Far East.

“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,” he added.

Whether it is about the International North-South Corridor or the Chennai-Vladivostok Maritime Corridor or the Northern Sea Route, Modi said, “connectivity will play an important role in the development of our relations in future.”

India had announced its ‘Act Far East‘ policy in 2019. Modi said that policy today has become one of the pillars of India-Russia ‘Special and Privileged Strategic Partnership’.

During the last India-Russia Annual Summit held in December 2021, New Delhi had said that the feasibility study of the Chennai-Vladivostok Eastern Maritime Corridor is in advanced stage.

India and Russia are also moving towards the “effective usage” of the International North-South Transport Corridor for cargo transport at lesser cost and time to enhance connectivity in the Eurasian region.