Russian President Vladimir Putin stated that there exists significant potential for economic collaboration between Russia and India that goes beyond merely logistics. On October 2, during discussions regarding the development of global transport routes, he underscored Moscow’s commitment to enhancing multifaceted ties with New Delhi. He remarked, “There is a very big potential for economic cooperation with India, not just in logistics.”

Putin detailed that after successfully piloting commercial vessels from China and South Korea, Russia is currently in negotiations with India to mutually utilise these emerging maritime and connectivity routes. This encompasses efforts to deepen economic ties through shared interests in significant international transport corridors.

International North-South Transport Corridor Progress Discussed

Highlighting advancements in the International North-South Transport Corridor (INSTC), Putin elaborated on recent piloting of container ships from China and South Korea. He stated, “We have piloted a Chinese container ship and South Korean ship, and we are talking to our Indian friends as well.” He expressed support for collaborative efforts to effectively use these strategic international corridors.

Putin also clarified that the successful operation of the corridor depends on multiple stakeholders, including Iran, which is expected to fulfil its obligations. He reassured that transit agreements with Azerbaijan are progressing well, confirming ongoing positive communication with Azerbaijani President Ilham Aliyev.

Furthermore, Putin indicated that Azerbaijan is in agreement regarding the necessary transit arrangements, alluding to a seamless operational process. This collaboration is envisaged to enhance the connectivity and transport efficiency within the corridor, further solidifying bilateral close ties.

Putin Acknowledges Modi’s Efforts for Ukraine Conflict Resolution

In an additional noteworthy comment, Putin praised Indian Prime Minister Narendra Modi for his initiatives aimed at resolving the ongoing conflict in Ukraine. He highlighted Modi’s consistent endeavours to advocate for peaceful solutions, stating, “Prime Minister Narendra Modi is one of those world leaders… constantly raises the question and asks the question about putting an end to the conflict in Ukraine.”

Putin expressed appreciation for Modi’s commitment to finding mutually acceptable resolutions by acknowledging the Prime Minister’s unbiased stance while demonstrating an interest in concluding hostilities. He remarked on Modi’s keen interest and valuable ideas aimed towards achieving peace, expressing gratitude for Modi’s continued support for dialogue as a means to resolve the conflict.

Elaborating on this sentiment, Putin articulated, “We are thankful for his desire to put an end to this conflict through peaceful means and as soon as possible,” underscoring the importance of international collaboration to address global conflicts.

Exploration of Direct Rail Links to Indian Ocean Discussed

Earlier in August, Russian Deputy Prime Minister Marat Khusnullin indicated the necessity of exploring the possibility of establishing a direct rail link to the Indian Ocean. This initiative aims to alleviate transit challenges related to the Bosphorus and the Strait of Hormuz. Khusnullin noted that alternative routes through Turkmenistan, Iran, Afghanistan, and Pakistan would be considered to enhance accessibility to India.

The proposition of alternative trade routes has emerged in light of rising maritime disruptions in the Strait of Hormuz due to recent military engagements involving the US, Israel, and Iran. These increasing tensions underscore the strategic significance of finding reliable and secure transport routes for trade and commerce.

This strategic chokepoint, which accounts for approximately 25 per cent of global oil trade and nearly 20 per cent of worldwide liquefied natural gas shipments, has become a focal point for discussions regarding the need for alternative maritime pathways amidst ongoing conflicts.

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