News Desk. The land of New Delhi this time became witness to a new chapter in India-Russia relations. Russian President Vladimir Putin and Prime Minister Narendra Modi, who are on a two-day visit, issued a joint statement on Friday. During this, Putin made it clear that Russia will continue to supply energy to India continuously and without any interruption, a message which has created a stir in international politics.
Russian oil supply continues
In the joint statement, Putin said that Russia is and will remain India’s “reliable energy partner”. He reiterated that Russia will continue to supply oil, gas and coal to India’s rapidly growing economy. This message has come at a time when America has been continuously pressurizing India to reduce Russian oil imports. Despite the increased tariffs imposed by the US administration, Putin’s statement gives a clear signal to America that India-Russia energy cooperation will not stop due to any external pressure.
New opportunities in energy sector
Both the leaders agreed to expand the scope of partnership in the energy sector. Putin said that both countries are considering new mechanisms to make oil and gas supply more stable. In future, this cooperation can also be extended to hydrogen, LNG and coal technology.
India-Russia’s ‘Independent Foreign Policy’ Model
Putin said India and Russia stand with the group of countries pursuing an “independent and self-reliant foreign policy” including in global forums BRICS, SCO. Both countries also agree to protect the fundamental principles of the United Nations. His statement holds special significance in the global environment where many big countries are trying to pursue their interests amid strategic pressures.
Transport Corridor: New corridor from north to south
Putin said that Russia and India are jointly preparing new international transport routes, in which the North-South Transport Corridor from the North to the Indian Ocean is the most important plan. If this project is successful, both the time and cost of Europe-Asia trade can be drastically reduced.
Rapidly growing business, target of 100 billion dollars
India-Russia trade registered a growth of 12% last year, reaching about $64 billion. Putin says that both the countries are ready to take it to 100 billion dollars soon. The proposed free trade agreement between India and the Eurasian Economic Union can play an important role in achieving this goal.
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