India commits to energy partnership with Russia during Eastern Economic Forum

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By Rahul Kumar Dubey

New Delhi, September 7: Following Prime Minister Narendra Modi’s address to the 7th Eastern Economic Forum, it has been established, yet again, that India as a nation has always emphasised the need to incorporate the path of diplomacy and dialogue, which support all peaceful efforts to end conflicts, work with sheer resolve to mitigate global health emergencies, and strive for sustainable development across societies, without posing a burden of global uncertainties on our future generations.

PM Modi stressed the requirement to resolve a variety of issues that emerged as a result of geopolitical tensions and pandemic-induced anxieties and uncertainties. Pavan Kapoor, India’s ambassador to Russia, is leading the Indian delegation to the Summit.

In a virtual address to the plenary session of the 7th Eastern Economic Forum, that is being held in Vladivostok, Russia, PM highlighted that in today’s globalised world, events in one part of the world have a ripple effect on the entire world, as a result of which foodgrain, fertiliser, and fuel shortages are a major concern for developing countries, which are emerging from the smouldering ashes of global power struggles.

Apart from traditional areas of cooperation between India and Russia, such as crucial and key weapons for the defence sector, hydrocarbons, nuclear energy (Kudankulam), space sector (Gaganyaan), pharmaceuticals and diamonds, new sectors of economic engagement are likely to emerge such as energy, agro-industrial, and high technology, including robotics, nanotech, and biotech.

Modi has established that India is eager to strengthen its Arctic subjects with Russia. During the Plenary Session of the 7th Eastern Economic Forum, which is being held through video conferencing in Vladivostok, the Prime Minister stated that there is tremendous scope for partnership in the sphere of energy.

He also stated that besides energy, India has undertaken significant investments in the Russian Far East in the fields of pharmaceuticals and diamonds. During his speech, the Prime Minister recalled the meet of Eastern Economic Forum, 2019 and stated that he had the opportunity to participate at this event face-to-face, and at that time, he announced India’s Act Far-East policy, as a result of which, India’s partnership with Russia’s Far East has expanded in the wide range of sectors. PM stated that this approach has become a significant component of India and Russia’s Special and Privileged Strategic Partnership, while India’s presence in the Russian Far East and the Arctic is expected to grow further, with enhanced scope of connectivity.

The Prime Minister also appreciated the fact that India was the first country to come up with a consulate in this city, noting that thirty years had passed since the creation of the Consulate of India in Vladivostok.

The Eastern Economic Forum is an annual event held in the Russian city of Vladivostok. It was founded by decree of the President of the Russia in the year 2015. It serves as a venue for the debate and analysis of significant international economic issues, development cooperation, the growth of new industrial and technology sectors, as well as the international difficulties that Russia and other countries are currently confronting.

The Forum’s particular strategy includes a variety of economic discussions and dialogues with major allied nations in the Asia-Pacific area as well as with ASEAN, a crucial organisation for Southeast Asian countries that are rapidly expanding. It has developed into a global forum for discussion of the approach to strengthening political, economic, and cultural connections between Russia and Asia Pacific throughout time.

(Author is a researcher with Public Policy Research Centre)

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