Diplomatist Magazine Diplomatist October 2019 | Page 12

SPECIAL REPORT suff ering over the years in connecting with the Eurasian continent can be overcame as analysts and policy makers perceive. Russia’s intentions to give India a larger role in the Far Eastern region was evident when the Deputy Prime Minister of Russia during his interaction with Indian industrial conglomerates in June 2019 highlighted the need for Indian investment in various sectors of the Far Eastern economy. One may recall here that the Indian energy conglomerates like OVL has already made a signifi cant entry into the energy-rich Sakhalin 1 project since long. Apart from this New Delhi is also importing a bulk of LNG from Russia. In this regard, the Far East region is also known for producing such a large volume of LNG. If Indian energy conglomerates can invest in the oil and gas sector then it can be considered as “game-changer” as far as cementing energy relations between the two countries is concerned. This is happening, despite the fact that there are some minor irritants persists. By entering into the joint production with the Russian energy groups and exporting it to the neighbouring countries like South Korea, Japan and other southeast Asian countries, Indian energy industries can earn huge foreign exchange. As has been enshrined in the Joint Statement signed between both the countries during the visit of Russian President Vladimir Putin to India in November 2018, Russia “invited the Indian Side to invest in the Russian Far East.” Far East part of Russia also got much attention from Prime Minister Modi during the speech he delivered during his interaction with the visiting President Putin. He stated that “From the arctic to far East, and from sea to space, there will be an even greater expansion of India-Russia relations.” Even at the time of his interaction with Putin on the sideline Bishkek SCO Summit both Modi and Putin expressed the need for further cooperation in the Far Eastern region of Russia. What will augment the trade between both countries is the signing of a Free Trade Agreement. Efforts are also on this way to include India in Russia’s pet project of Eurasian Economic Union (EEU). This will give much leverage to New Delhi in reaping the market of member states of EEU. The Joint Statement signed between the two countries on the sidelines of EEF Summit also appreciated the participation of various Indian industries in the industrial activities of the region, ranging from diamond cutting to the oil and gas sectors. 12 • Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 10 • October 2019, Noida Eff orts in this direction have been made by both the sides at Vladivostok as the Joint Statement emphasized: “to further consider reducing restrictive measures through bilateral dialogue”. At the socio-cultural fronts also India shares a “Civilizational linkages” with the Far East region. Buddhism is one such connecting point. Similarly, Indian scholars have also mentioned about this region in their textbooks. Particular mention can be made about the writings of Bal Gangadhar Tilak who in his book Arctic Home in the Vedas highlights cultural commonality and continuity between India and Russia (which includes Far East region). The most interesting aspect of 5th EEF at Vladivostok is the outline of “Act East Far East” policy of India by Prime Minister Modi. As Prime Minister Modi in his speech at the Forum stated: “Today’s announcement will prove to be the take-off point of the Act Far East policy and it is my fi rm belief that this step adds a new dimension to our economic diplomacy.” He further stated that “India will provide a $ 1 billion line of credit to further contribute to the development of the Far East.” Prime Minister’s statement signifi es how India is attaching signifi cance to this region over the years. The Joint Statement signed between the two countries on the sidelines of EEF Summit also appreciated the participation of various Indian industries in the industrial activities of the region, ranging from diamond cutting to the oil and gas sectors. It is in this context the Joint Statement highlighted the need to augment bilateral trade to “$30 billion by 2025”. One can conclude that India’s engagement with Russia’s Far East can only be studied in the context of developments both at the global and regional level along with the bilateral relationship between both the countries. What Russia needs is growing partnership with India in its Far East region to ensure a sustainable security environment.  * The author is Assistant Professor, Centre for Russian and Central Asian Studies in the School of International Studies, Jawaharlal Nehru University, New Delhi. He can be contacted at [email protected]