(Commonwealth_ Russia is advancing efforts to establish Vietnam, Thailand, and Indonesia as key intermediate stops along the Eastern Maritime Corridor, which connects Vladivostok to Chennai. This initiative is part of a broader strategy to strengthen India’s business ties with Russia’s resource-rich Far East. According to Russian Far East Minister Alexey Chekunkov, the Far Eastern Shipping Company (FESCO) is actively working on the project, with Indian entities also participating.
The Eastern Maritime Corridor (EMC), also known as the Vladivostok-Chennai Corridor, is designed to enhance trade between the Far East region of Russia and India by providing a faster and more efficient maritime route. Currently, the trade turnover between the ports of the Russian Far East and India exceeds one billion dollars, excluding oil and special-purpose goods, underscoring the economic significance of this initiative. Minister Chekunkov emphasized that the logistical aspect of the agreement is critical, as it paves the way for expanded trade between the two nations.
This week’s Eastern Economic Forum (EEF) in Vladivostok presents an opportunity for Russia and India to further explore potential joint shipbuilding projects at Indian shipyards, a key area of collaboration that has been under discussion. These shipbuilding projects would not only enhance maritime trade infrastructure but also contribute to the development of industrial capacities in both nations. The joint ventures are seen as a natural extension of the countries’ growing cooperation in trade and economic development.
At the annual summit in July, India and Russia signed several significant agreements that set the stage for deeper collaboration. Among these were the India-Russia Cooperation Programme in Trade, Economic, and Investment Spheres for 2024-2029 and the Principles for Cooperation in the Russian Arctic Region. The agreements signify a commitment to bolstering long-term economic and trade relationships between the two countries, with a particular focus on the Russian Far East and Arctic regions.
The Arctic region is rich in resources, and Russia sees India as a strategic partner in unlocking its potential. With India’s increasing interest in the Arctic, the cooperation principles will facilitate joint ventures and projects, particularly in the fields of energy, logistics, and infrastructure. The focus on the Arctic and Far East highlights a shift in India-Russia relations, where both countries are looking to diversify their economic engagement beyond traditional sectors like defense and oil.
Following the July summit in Moscow, both India and Russia have been working to expedite the full implementation of the Vladivostok-Chennai Eastern Maritime Corridor. This initiative is being linked to the development of the Arctic region, further enhancing the corridor’s strategic importance. By creating a direct maritime link between India and Russia’s Far East, the EMC offers a significant reduction in transit time compared to traditional routes through the Suez Canal. This route is expected to cut shipping times by up to 40 percent, making it a highly attractive option for businesses in both countries.
India, in turn, is also planning to establish a trans-shipment hub in the Bay of Bengal, which will complement the Vladivostok-Chennai Corridor. This hub is expected to facilitate increased trade with Southeast Asian nations, adding further importance to the EMC. While the corridor has already begun operations, additional infrastructure is required in Chennai to fully support its growing use. Investment in port facilities, warehouses, and logistical services will be crucial in ensuring the corridor’s long-term success.
The development of the Eastern Maritime Corridor also dovetails with broader geopolitical dynamics. As Russia seeks to pivot towards Asia amid strained relations with Western countries, India is seen as a vital partner in this realignment. The corridor aligns with India’s “Act East” policy, which aims to strengthen economic ties with East Asia and the Pacific. Both nations share a vision of a multipolar world where economic connectivity plays a crucial role in shaping global politics.
