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Prime Minister Narendra Modi emphasizes Trade with Russia to get stronger, need to end Ukraine war

By Our Special Correspondent

Prime Minister Narendra Modi on Wednesday said that India and Russia are partners in the energy sector and cooperation on Arctic issues can be strengthened.

However, he said there was a need to end the conflict in Ukraine, which could be achieved through dialogue and diplomacy.

Modi was actually addressing the 7th Eastern Economic Forum in Vladivostok, Russia. Russian President Vladimir Putin was also personally present.

"The Ukraine conflict and the Covid pandemic have affected supply chains around the world," Modi said, adding that "India has supported peaceful efforts to end the conflict in Ukraine." Modi also spoke about India's interest in expanding trade ties, connectivity and investments with Russia.

"India is keen to strengthen its partnership with Russia on Arctic matters. There is enormous scope for cooperation in the energy sector. India has made significant investments in the Russian Far East in the pharmaceuticals and diamond sectors," he said, referring to improving connectivity between India and Russia.

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

"We can also contribute to the mobility of talent. Indian talent has contributed to the development of many resource-rich regions of the world. I believe that the talent and professionalism of Indians can bring rapid development in the Russian Far East," he added.

Referring to India's principle of “Vasudhaiva Kutumbakam”, Modi today said that what happens in one part of the globe affects the entire world. Talking about bilateral cooperation in Russia's Far East, Modi recalled his personal participation at the Eastern Economic Forum in 2019 when India's "Act Far East" policy was announced.

“As a result, India's cooperation with various sectors in Russia's Far East has increased. Today, this policy has become an important pillar of India-Russia special strategic partnership,” he said.

“With the military action in Ukraine, the global financial crisis and the change in the energy crisis, the world is divided into friendly and unfriendly countries towards Russia. We have more friendly countries. The Far East is becoming an important way to end the multipolar world," Putin said, adding that the West, which was interested in sending grain from Ukraine, diverted it to more developed countries.

Putin said that out of 87 shipments of wheat sent from Ukraine; only two reached the poor countries.

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