India is keen on strengthening its partnership with Russia on Arctic subjects as there is immense scope for cooperation in the field of energy between the two countries, Prime Minister Narendra Modi said on Wednesday virtually at the 7th Eastern Economic Forum being held in Vlady-Vostok.

“India is keen to strengthen its partnership with Russia on Arctic subjects. There is immense scope for cooperation in the field of energy. Along with energy, India has also made significant investments in the Russian Far East in the fields of pharma and diamonds,” PM Modi said in his virtual address.

Highlighting the thirty years of the establishment of the Consulate of India in Vladivostok and the fact that India was the first country to open a consulate in the city, PM Modi said that India has also made significant investments in the Russian Far East in the fields of pharma and diamonds along with energy.

In 2019, PM Modi participated in the economic forum in person and announced the “Act Far-East” policy of India as a result of which India’s cooperation with the Russian Far East has increased in various fields.

The Eastern Economic Forum was established in 2015 and has become a primary platform of international cooperation for the development of the Russian far-East.

On the ongoing war in Ukraine, the Prime Minister said that in today’s globalized world, events in one part of the world create an impact on the whole world. The Ukraine conflict and the COVID pandemic have had a major impact on global supply chains following which foodgrains, fertilizer, and fuel shortages became a major concern for developing countries.

“From the very beginning of the Ukraine conflict, we have emphasized the need to adopt the path of diplomacy and dialogue. We support all peaceful efforts to end this conflict,” PM Modi said while he thanked the Russian President for inviting him to the forum.

The year 2022 marks both 75 years of India’s Independence and the 75th Anniversary of the Russian-Indian diplomatic relations, which were established in April 1947.

The multidimensional cooperation between India-Russia is one of the world’s most elaborate ones with regular meetings of the two intergovernmental commissions, sector-wise ministerial, security advisors’ and senior officials dialogue, foreign office consultations and coordination in the global arena.