July 9 2024

Emphasis will also be placed on the launch of the Vladivostok-Chennai sea corridor

Russia and India encourage cooperation on the development of maritime transport between the countries along the Northern Sea Route (NSR). For this purpose, they expressed their readiness to create a joint working body for interaction in the use of the NSR. This is stated in a joint statement by Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. The document was published on the Kremlin website.

The parties also share approaches to building a new architecture of stable and efficient transport corridors and pay close attention to the development of promising production and supply chains in the Eurasian space. In this context, the leaders expressed their readiness to work actively to expand logistics links with an emphasis on increasing the capacity of infrastructure, including that for the launch of the Vladivostok-Chennai sea corridor and the North-South International Transport Corridor (ITC).

The Northern Sea Route is defined as one of Russia’s strategic development priorities. In August 2022, the Russian government approved a plan for the development of the Northern Sea Route until 2035, which included 155 measures aimed at developing the cargo base, fleet, transport and security infrastructure. According to the plan, the annual cargo flow along the NSR should amount to 150 million tons in 2030 and 220 million tons in 2035.

Cargo transportation along the Northern Sea Route in 2023 amounted to 36.25 million tons, international transit transportation exceeded 2 million tons.

Source: https://portnews.ru/news/365206/