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India, Russia discuss ways to increase economic cooperation in mining, agriculture

12 Sep 2018 Evaluate

The commerce ministry has said India and Russia discussed ways to increase economic cooperation in areas such as mining and geological exploration in gold and diamond, water cooperation, forestry, timber and agriculture. In order to explore areas of cooperation, the commerce minister invited regional governors of the Far East to visit India with business delegations. 

Presently, Suresh Prabhu is in Vladivostok, Russia, to attend the Far Eastern Economic Forum being held from September 11-13. New initiatives from the Russian Federation and changing neighbourhood dynamics have increased the need for India to evaluate the opportunities available in the Far East of Russia.

India was the first country to establish a resident consulate in Vladivostok in 1992. However, India’s existing engagement with the region is limited to isolated pockets. In order to bolster the trade ties it is imperative that connectivity between India and Vladivostok have to be simplified, affordable and time efficient. The commerce ministry said that ease of connectivity will not only provide access to the resource rich, unexplored Far East but will also strengthen India’s geo-political stature.

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