CorporateCorner – February 2024

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India-Russia maritime collaboration

Sarbananda SonowalIn a move towards enhancing bilateral maritime cooperation, India’s Union Minister for Ports, Shipping, and Waterways and AYUSH, Sarbananda Sonowal, announced that the government is closely monitoring the developments in the Red sea region. Speaking at the inauguration of the India-Russia workshop for operationalisation of the eastern maritime corridor, Sonowal expressed deep concern and reiterated India’s commitment to the freedom of navigation and commerce.

Highlighting the government’s proactive measures, the minister stated that the navy is actively patrolling the Red sea area, ensuring security of crucial sea lanes to protect the nation’s interests. He also shared plans for collaboration with Russia in training Indian seafarers for navigation in the Arctic region. The Vladivostok-Chennai marine corridor offers several benefits including reduced travel time and fuel costs, compared to other corridors.

Anatoly Yuryevich Bobrakov, Deputy Minister for the Development of the Far East and the Arctic of the Russian Federation, underscored the strong strategic partnership between the countries. T K Ramachandran, Secretary of the Ministry of Ports, Shipping, and Waterways, highlighted the five key areas of collaboration – coking coal, crude oil, fertilizers, freight containers and LNG. The  developments in the Red sea region underscore the significance of such alliances in safeguarding the shared interests of India and Russia.

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