Foreign Secretary Shringla calls for greater interaction among strategic affairs analysts of India and Russia

Foreign Secretary Harsh Vardhan Shringla on February 18 highlighted the distinctive nature of India’s shut and trust-based partnership with Russia, as he known as for greater interaction among the suppose tanks and strategic affairs analysts of the 2 nations consistent with their sturdy complete bilateral cooperation.

Also learn: Expect “developments” in India-Russia ties: Shringla

Mr. Shringla arrived in Moscow on Feb. 16 on his first international journey this 12 months and known as on Russian Foreign Minister Sergey Lavrov and held vast ranging talks with Deputy Foreign Minister Igor Morgulov on Feb. 17.

On Feb. 18, he exchanged views with main Russian lecturers and strategic thinkers on the India-Russia relationship in view of the fast-changing geopolitical panorama.

“Foreign Secretary @harshvshringla called for greater interaction among the think tanks and strategic affairs analysts of #India and #Russia in line with our strong comprehensive bilateral cooperation,” the Indian embassy in Russia tweeted.

“Foreign Secretary @harshvshringla exchanged views with leading Russian academics and strategic thinkers on #India-#Russia relationship in view of the fast-changing geopolitical landscape. FS highlighted the unique nature of our close and trust-based partnership with Russia,” the mission stated.

Mr. Shringla on Feb. 17 had “fruitful and productive” conferences with prime Russian diplomats on bilateral points in addition to regional and world points of mutual curiosity and the 2 sides mentioned methods to additional strengthen the bilateral Special and Privileged Strategic Partnership.

He additionally had “excellent discussion” with Russia’s Deputy Foreign Minister Morgulov on bilateral points, cooperation in multilateral organisations in addition to regional and world points of mutual curiosity.

Speaking on the Russian Diplomatic Academy on Wednesday Mr. Shringla stated, “I had glorious conferences on the Russian Foreign Ministry, with Mr. Morgulov, the place we reviewed our bilateral relations, together with forthcoming high-level exchanges.

“We also discussed India-Russia cooperation in multilateral forums and exchanged views on issues of regional and international importance,” he stated.

During Mr. Shringla’s assembly with Foreign Minister Lavrov, he conveyed greetings of External Affairs Minister S. Jaishankar.

“I just called on Mr. Lavrov and it was an opportunity to listen to him. He spoke on Russia India relations, that it is very close, very special, very privileged, and strategic, so these were his words and for me, this was very instructive to listen to a personality like him.” “Given the significance, we attach to the India-Russia Special and Privileged Strategic Partnership, it is only fitting that Moscow is the destination for my first visit abroad in 2021,” he stated.

In his deal with to the budding diplomats of the Diplomatic Academy, the Foreign Secretary emphasised {that a} multipolar world and multipolar Asia will not be doable with out India and Russia.

Mr. Shringla’s two-day official go to will add momentum to the India-Russia particular and privileged strategic partnership and alternate views on topical points of regional and worldwide significance. The journey can be anticipated to put the groundwork relating to the high-level bilateral visits deliberate for this 12 months.

‘Diversity trade basket’

India and Russia ought to diversify their commerce basket and financial exchanges by going past the standard sectors and cooperating in new areas like railways, transport and logistics, prescription drugs, minerals and metal that can add momentum to the bilateral ties, Mr. Shringla has stated.

Addressing a gathering hosted by the Diplomatic Academy of Russian Ministry of Foreign Affairs on Feb. 17 , Mr. Shringla stated India-Russia commerce, amounting to $10.11 billion in FY 2019-2020, is way under the potential.

“Last year there was a slump but we are finding ways of reviving it. Both countries have set the bilateral trade target at $30 billion by 2025,” he stated.

One of the steps taken to boost commerce is the graduation of negotiations in August 2020 for the India- Eurasian Economic Union (EAEU) Free Trade Agreement, he stated.

The operationalisation of a “Green Corridor” and a Bilateral Investment Protection Arrangement are more likely to encourage bilateral commerce and funding, respectively, Mr. Shringla underlined.

Use of nationwide currencies in bilateral commerce settlements may also scale back value and time in addition to danger of held-up funds, he stated.

Pointing that the oil and gasoline sector has been a flagship sector of industrial cooperation, he stated the 2 nations have been looking for methods to diversify financial exchanges going past the standard areas.

Investment in new areas

He stated India is taking a look at funding in new areas comparable to coking coal, timber, LNG as there’s a big potential there.

“We have already started a shipping line between Vladivostok and Chennai. We are looking at a significant trade route which was never there, a new route between our two countries.” Stressing that Indian firms have considerably invested in Russia, he stated India’s funding within the Sakhalin-1 challenge was one of India’s earliest public sector investments overseas.

Till date, Indian oil and gasoline firms have acquired stakes in 5 Russian firms/tasks at a price of about $15 billion. Rosneft was the chief of a consortium of traders that, in 2017, acquired a 98% stake in India’s Essar Oil at a price of $12.9 billion.

He stated India is severely into the method of privatising many of its oil majors and some are having very severe discussions with Russian firms to see if some of these stakes may be acquired by Russian firms.

“We are looking at long-term arrangements for the supply of coking coal from Russia for Indian steel plants. An India Energy Centre will be opened in Moscow next month,” he stated.

Underlining that it is very important diversify and broaden the India-Russia commerce basket, he stated, there may be curiosity in taking ahead cooperation in railways, transport and logistics, civilian ship constructing and restore, inland waterways, prescription drugs and medical gadgets, minerals, metal, chemical substances, together with petrochemicals, ceramics, agro-industry, timber, excessive expertise and scientific analysis.

Indian firms are actively exploring investments in Russia in vitality, minerals, infrastructure and healthcare, he stated.

“As diplomats we should not be looking at what is traditional but try to do which is new, which adds momentum to the relationship,” he stated.

The 12 months 2020 marked the twentieth anniversary of the institution of the India-Russia Strategic Partnership and the tenth anniversary of its elevation to a Special and Privileged Strategic Partnership.

“As described by Foreign Minister Sergey Lavrov recently, the India-Russia relationship is truly very close, very strategic, very special, and very privileged,” he stated.

He stated the long-term convergence of pursuits, sensitivity to one another’s core issues, mutual respect and belief shared by Prime Minister Narendra Modi and President Vladimir Putin and rising people-to-people contacts are key drivers of the bilateral partnership.

He stated defence, vitality, area and civil nuclear cooperation have been its conventional pillars.

In phrases of safety and defence ties, he stated, India and Russia have sturdy navy and military-technical cooperation.

He stated the 2 nations are cooperating in manufacture of the “BrahMos” missile system and licensed manufacturing in India of SU-30 plane and T-90 tanks are standout examples of India’s cooperation with Russia.

“We also plan to begin the manufacturing of AK-203 rifles, through an India-Russia joint venture in India, involving full technology transfer,” he stated.

‘Exploring trilateral contact’

Acknowledging that the COVID-19 pandemic revealed a number of choke-points and vulnerabilities in world provide chains, he stated this has allowed India and Russia to analyse the place they’ll stand collectively to beat over-dependence and over-reliance on sure economies.

He stated India and Russia have prioritised the International North-South Transport Corridor and the Eastern Maritime (Chennai-Vladivostok) Corridor as alternate options to the restricted and costly conventional routes.

“We are also exploring trilateral contact with partner countries like Japan and the first Track-II Dialogue on ‘India-Japan-Russia Cooperation in the Russian Far East’ was held In January 2021 in the virtual format. It has identified potential areas for trilateral cooperation,” he stated.

He underlined that cooperation on the peaceable makes use of of nuclear vitality is a crucial side of the strategic partnership, and the Kudankulam Nuclear Power Project (KKNPP) is a cherished joint challenge.

“We have agreed to commission 12 Russian-designed nuclear reactors in India in the coming years,” he stated.