India and Russia Joint Maritime Commission is expected to meet soon to give a big push to maritime connectivity in the Indo-Pacific Region through the Chennai-Vladivostok shipping link, strengthen joint shipbuilding project and cooperate in the inland waterways sector.
The commission, which will feed into bilateral projects in the Russian Far East, plans to meet in the near future, said people familiar with the matter.
The issue was discussed at a virtual meeting between external affairs minister S Jaishankar and Russia's Deputy Prime Minister Denis Manturov during their joint commission on Monday.
The Chennai-Vladivostok maritime route has been revived and contributed to the growth in bilateral trade last year as part of PM Narendra Modi's Act Far East Policy.
Last year Russia offered India "leasing and building large-capacity ships" as insurance on Russian oil amid the G7 price cap on its energy purchases. In 2021, India and Russia had decided to focus on the area of civilian shipbuilding to facilitate enhancement of interaction and specialist training, investments in shipbuilding and repair, scientific research, development of intelligent transport and navigation systems, and international transport corridors. The civilian ships are also intended for oil trade.
In 2021, Mazagaon Dock Ltd and Zvezda Shipyard of Russia signed an agreement for commercial shipping and building ships.
The commission, which will feed into bilateral projects in the Russian Far East, plans to meet in the near future, said people familiar with the matter.
The issue was discussed at a virtual meeting between external affairs minister S Jaishankar and Russia's Deputy Prime Minister Denis Manturov during their joint commission on Monday.
The Chennai-Vladivostok maritime route has been revived and contributed to the growth in bilateral trade last year as part of PM Narendra Modi's Act Far East Policy.
Last year Russia offered India "leasing and building large-capacity ships" as insurance on Russian oil amid the G7 price cap on its energy purchases. In 2021, India and Russia had decided to focus on the area of civilian shipbuilding to facilitate enhancement of interaction and specialist training, investments in shipbuilding and repair, scientific research, development of intelligent transport and navigation systems, and international transport corridors. The civilian ships are also intended for oil trade.
In 2021, Mazagaon Dock Ltd and Zvezda Shipyard of Russia signed an agreement for commercial shipping and building ships.
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