The Union Minister emphasized that the operationalization of the EMC would greatly enhance trade relations between India and Russia…reports Asian Lite News
Russia has expressed keen interest in sending a business delegation to Chennai to explore various business prospects, notably the development of an alternative maritime route between Vladivostok and Chennai.
The Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, discussed these opportunities during a meeting in Vladivostok with a Russian delegation led by Sergey Mochalnikov, Deputy Minister of Energy, Russian Federation, and Maxim Reshetnikov from the Ministry of Economic Development of the Russian Federation.
Mr. Sonowal also extended an invitation for an Indo-Russian workshop on the Eastern Maritime Corridor (EMC) in Chennai, aimed at facilitating discussions among key stakeholders, including port authorities, logistics companies, and coal transporters from both nations. The Russian government expressed a strong desire to visit the Chennai port with a substantial business delegation for in-depth bilateral discussions.
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The Union Minister emphasized that the operationalization of the EMC would greatly enhance trade relations between India and Russia, attributing it to the visionary leadership of Prime Minister Narendra Modi. He proposed a workshop in Chennai to bring together stakeholders and expedite the EMC’s smooth implementation.
The proposed workshop is scheduled to take place from October 30 to November 1, 2023, in Chennai. Sonowal also highlighted India’s maritime program, Sagarmala, which aims to optimize India’s coastline and waterways to reduce logistics costs for both domestic and EXIM cargo. Currently, numerous Sagarmala projects are in various stages of development, with the Eastern Maritime Corridor poised to significantly reduce transportation times between Indian and Russian Far East ports.
The Chennai-Vladivostok sea route is estimated to be approximately 5,600 nautical miles, offering a substantial reduction in travel time compared to the existing trade route between Mumbai and St. Petersburg. This corridor is seen as holding enormous potential to unlock new trade opportunities and foster cooperation between India and Russia.
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