New Delhi: Prime Minister Narendra Modi will arrive in Russia's famous city Vladivostok on Wednesday for a 36-hour visit, but this short trip might prove to be a new vista for the relationship between the two countries. PM Modi will also attend the Eastern Economic Forum (EEF) meeting there and will also lead the India-Russia annual summit meeting with President Vladimir Putin.
After the meeting there will be two important announcements which will give a new direction to the relations between India and Russia. Under this, the two countries will set the agenda for cooperation in the hydrocarbon sector for the next five years. Also, a cooperation letter will be signed to meet the shortage of trained professionals in Russia from India.
Cooperation in the energy sector between India and Russia is already growing fast but now ithere is an understanding to take it to a newer level. Broadly, India will not only be buying hydrocarbon products from Russia but will also be the country to invest there.
Regarding the future energy agenda of the two countries, Foreign Secretary Vijay Gokhale said, "India is talking with many countries to expand their energy sources. Russia will have a big role in this. India is a major energy buyer of the world. On the other hand, large energy reserves are being discovered one after the other in Russia. So the governments of both countries are exploring the possibilities. "
There is a shortage of trained labor in many industrial areas of Russia which India is keen to meet. Given the huge growth in diamond trade between the two countries in recent years, there is a lot of potential here. Currently, diamonds are imported from Russia to India, and here they are cut and exported again from Russia and sent to other countries. Now many Indian entrepreneurs are willing to set up a diamond cutting unit in Russia itself, but there is a shortage of qualified craftsmen. There is talk between India and Russia about how to send trained artisans from here.
Under the five-year agenda, Indian companies will invest in the far eastern region of Russia, rich in oil and gas reserves. In addition, India will also enter into an agreement to purchase LNG from Russia. There will also be talk between Modi and Putin about laying gas pipeline from Russia to India, but the situation in Afghanistan and Pakistan is being seen as a major bottleneck in it.
