The EMC connects ports on India’s east coast with the ports in Far East Russia via Malacca Strait, the South China Sea and the Sea of Japan, he pointed out.
The situation in the Red Sea that’s impacting maritime trade is a serious matter. India has given importance to freedom of navigation and freedom of commerce, and the Government of India has been taking adequate measures to ensure maritime security for seamless movement of commercial vessels. The ministries concerned are taking action in this regard, he said.
“We may see Russian icebreakers being built at Indian shipyards. These are encouraging possibilities of India-Russia Maritime Partnership,” Sonowal further said after inaugurating the India-Russia workshop for ‘Operationalisation of the Eastern Maritime Corridor’ in Chennai.
“I am also optimistic of the many prospects for deepening our bilateral maritime cooperation, particularly in the two countries’ maritime skill development and training, shipbuilding and port-based clean energy investments. Indian seafarers will be equipped in Russia with the necessary training to undertake polar voyages for Arctic shipping,” he said.
The minister said the corridor promises immense potential to unlock new trade opportunities, thereby fostering mutual economic prosperity and resilience. The saving on time and fuel will enhance the corridor’s viability, he said.Anatoly Yuryevich Bobrakov, Deputy Minister for the Development of the Far East and the Artic of the Russian Federation, said there has already been over $130 billion investment in Russia in the oil and gas sectors. Russia sees India as its strategic partner and is working closely to deepen bi-lateral ties through enhanced trade relations. He invited Indian delegates to attend the upcoming 9th Far Eastern Economic Forum in September 2024 in Russia.