New Delhi, Jul 8 : Close on the heels of Indian government and various corporate houses showing interest to invest in mineral rich far-east region of Russia, the crucial Indo-Russian Strategic Economic Dialogue will be held in Delhi this week.
Russian Minister for Economic Development Maxim Oreshkin is expected in the capital. The talks would also firm up agenda for parleys during Prime Minister Narendra Modi’s visit to Vladivostok to attend the Eastern Economic Forum in September. Russia President Vladimir Putin had invited Mr Modi during SCO Summit in Bishkek to be the Chief Guest for the Eastern Economic Forum to be held in Vladivostok in the first week of September as the two sides are likely to widen the scope of their economic partnership especially in the Arctic region in sectors such as energy, transfer of technology, and joint projects under Make in India initiative.
During the last few days, Indian ambassador to Russia D B Venkatesh Varma met key members of the Russian government to discuss on various matters of bilateral issues. Among others Indian envoy met Aleksei V Gruzdev, Deputy Minister of Industry & Trade of Russian Federation and also Maxim Oreshkin, Minister for Economic Development. They discussed “Russia’s participation” in the upcoming India Russia Strategic Economic Dialogue scheduled to take place in New Delhi. The meeting was also attended by Deputy Minister Timur Maksimov, a diplomatic source said.
Shortly after SCO Summit at Bishkek wherein Mr Modi and Russian President Putin held bilateral talks, the Deputy Prime Minister of Russia Yury Trutnev had visited Delhi and Mumbai and he also addressed a gathering of business captains and industrialists in Mumbai seeking Indian investments in the Russian Far East.
Sources said India-Russia business tie has been hugely tilted favouring defence sector but with changing times, both the countries are exploring new avenues of collaborations. Tata Power, KGK Diamond among others have evinced interest while sources say the Far East Russian region has huge potential.
There are also proposals to establish a maritime connectivity route linking India's east coast with Russia's far-east rich in fossil fuel and minerals. Russian Deputy PM Yury Trutnev reportedly discussed the matter during his visit in June with External Affairs Minister Dr S Jaishankar. India was one of the first countries to establish a resident Consulate in Vladivostok way back in 1992.