“Very big potential for economic cooperation with India”: Vladimir Putin

MOSCOW: Russian President Vladimir Putin has underscored that there is “very big potential” for economic collaboration with India that extends well beyond logistics, while expressing Moscow’s strong intent to partner with New Delhi on major international transit and shipping corridors.

Speaking on the development of global transport routes, Putin on Thursday (local time) asserted Russia’s commitment to deepening multifaceted ties with New Delhi.

“There is a very big potential for economic cooperation with India, not just in logistics,” Putin said.

He further revealed that after piloting commercial vessels from China and South Korea, Russia is actively in talks with India to jointly utilise these promising maritime and connectivity routes.

Highlighting the progress of the strategically crucial International North-South Transport Corridor (INSTC), Putin said, “We have piloted a Chinese container ship and South Korean ship, and we are talking to our Indian friends as well. So we stand in favor of jointly using these promising international corridors. Now, as far as the North-South transport corridor is concerned, it does not depend solely on us. We stand ready to provide the credit resources. But right now, our Iranian friends have to complete their part of the work.”

Putin further clarified that transit arrangements through Azerbaijan remain on track following direct engagements with Azerbaijani President Ilham Aliyev.