The corridor boosts India’s business connections with resource rich Far East. According to Russian Far East Minister Alexey Chekunkov, the Far Eastern Shipping Company (FESCO) is actively collaborating with Indian entities for taking forward this arrangement.
On a separate note, Russia is also looking forward to collaborate with Indian shipyards for joint shipbuilding projects. Back, in the July, the two countries had signed the India-Russia Cooperation Programme in Trade, Economic and Investment Spheres in the Russian Far East for 2024-2029, as well as the Principles for Cooperation in the Russian Arctic Region.
“The trade turnover between the ports of the Far East and India exceeds one billion dollars, excluding oil and special-purpose goods. Therefore, the logistical aspect of this agreement is very important; it allows for the development of trade between the Far East and India, as well as the countries of Southeast Asia as a whole,” Alexey Chekunkov, Minister of Development of the Russian Far East and the Arctic recently stated.
