India, Russia consider Arctic shipping line to link Southeast Asia with Europe in lesser time than Suez, Panama canals

Moscow: India and Russia are discussing the possibility of launching a trans-Arctic container shipping line and processing facilities along the Northern Sea Route (NSR), said Aleksey Chekunkov, Russian minister for the development of the Far East and Arctic. The Arctic route, linking Southeast Asia to Europe will drastically reduce transportation times, compared to traditional routes through the Suez or Panama canals. In the Soviet era, it was used mainly to supply goods to isolated settlements in the Arctic. During the visit of Chekunkov, the issue was discussed in the meeting with India’s Minister of Ports, Shipping & Waterways Sarbananda Sonowal to use the ‘Northern Sea Route’ for reliable and safe cargo transportation, according to reports. “In India, we have seen a sincere, true interest in Russia, which is based on the long history of friendship between our countries,” the press service quoted Minister Alexey Chekunov as saying. “We are ready to continue the dialogue with the Indian side, where the main objective is to launch discussed projects.” “Another round of talks will be in Moscow in April on the platform of the Corporation for the Development of the Far East and Arctic,” he added. “The ministers discussed an alternative route to transport cargos from India to Europe – not by the southern or western routes, but by the eastern route and the NSR, using both Russian and Indian port facilities… The cost to ship a container from Vladivostok to India is 30% lower than from Moscow,” the Russian ministry announced. India has reportedly expressed interest in building a satellite city near Vladivostok in Russia’s Far East, including ports, roads and energy infrastructure. Chekunkov revealed that the next round of talks will be held in Moscow in April.

Discussed furthering 🇮🇳-🇷🇺 ties in the maritime sector including cargo transportation along Northern Sea Route, container shipment between ports of Russian Far East & India, operationalising Chennai - Vladivostok corridor and training of Indian seafarers in Arctic waters.

— Sarbananda Sonowal (@sarbanandsonwal) March 28, 2023

Earlier, Prime Minister Narendra Modi had said that New Delhi was planning to assist in developing the NSR and turning it into a global trade route. Russian President Vladimir Putin also termed the proposed route as “the key to the development of the Russian Arctic regions of the Far East,” and the goal is to make it a “truly global, competitive transport artery.” The Northern Sea Route, which stretches the entire length of Russia’s Arctic and Far East regions, is expected to become a major trade path for goods shipped between Europe and Asia. Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News , India News  and  Entertainment News  here. Follow us on  Facebook,  Twitter and  Instagram.