PM Modi has also reiterated the call for peaceful efforts to end the Ukraine conflict

There is immense potential for cooperation with Russia in the field of energy, Prime Minister Narendra Modi said on Wednesday.

India is also keen to strengthen its partnership with Russia on Arctic subjects, he said while addressing the online plenary session at the Eastern Economic Forum organised in the Russian city of Vladivostok.

Prime Minister Modi used the opportunity to reiterate the call for peaceful efforts to end the Ukraine conflict. Russian President Vladimir Putin is also attending the event.

Recalling his participation at the forum summit in 2019, Prime Minister Modi said India had announced its "Act Far-East" policy at that time and as a result, India's cooperation with the Russian Far East has increased in various fields. Today, this policy has become a key pillar of the "Special and Privileged Strategic Partnership" of India and Russia, he noted.

"India is keen to strengthen its partnership with Russia on Arctic issues. There is also immense potential for cooperation in the field of energy. Along with energy, India has also made significant investments in the Russian Far East in the areas of pharma and diamonds," Prime Minister Modi said.

He added that Russia can become an important partner for the Indian steel industry through the supply of coking coal.

"We can also have good cooperation in the mobility of talent. Indian talent has contributed to the development of many developed regions of the world. I believe that the talent and professionalism of Indians can bring about rapid development in the Russian Far East," Prime Minister Modi said.

The Ukraine conflict and the Covid pandemic have had a major impact on global supply chains, he said, adding that shortages of foodgrains, fertilizers, and fuels are a major concern for developing countries.

"Since the beginning of the Ukraine conflict, we have stressed the need to take the path of diplomacy and dialogue. We support all peaceful efforts to end this conflict. In this regard, we also welcome the recent agreement concerning the safe export of cereals and fertilizers," Prime Minister Modi pointed out.

He used the opportunity to highlight the important role of connectivity.

"Whether we talk about the International North-South Corridor, the Chennai- Vladivostok Maritime Corridor or the Northern Sea Route, connectivity will play an important role in the development of our relations in the future," he maintained.

Prime Minister Modi pointed out that this month marks the 30th anniversary of the establishment of the Consulate of India in Vladivostok. "India was the first country to open a Consulate in this city. And since then, the city has been a witness to many milestones of our relationship," he said.