A mega project is set to transform Chennai. What are Modi's plans in Russia?
A mega project is set to transform Chennai. What are Modi's plans in Russia?
As india becomes a manufacturing nation, besides improving its shipping system, it is imperative to have a low-cost operating system.
In this situation, it is usual for the newly inaugurated prime minister of india to make a state visit to the neighboring countries for the first time, but with the main goal of breaking this custom and improving the country's foreign policy, now narendra modi has gone on a state visit to russia after taking office for the 3rd time.
The most important aspect of the trip is the important step taken by the two countries to develop and implement the Chennai-Vladivostok sea freight route. The tense situation in West Asia is causing major disruptions to international trade. Due to this, there is a need to implement the 10,300 km Chennai-Vladivostok sea route. The route will connect Vladivostok, a major port city in eastern russia, with India's southeastern port hub, Chennai. This maritime cargo transportation is to be implemented under the Bilateral Economic Agreement between india and Russia.
The sea route was proposed in september 2019. An MoU was signed between india and russia while prime minister narendra modi was on his way to attend the Eastern Economic Forum in Vladivostok, Russia. According to this agreement, a sea route will be established between chennai Port and Vladivostok Port. Through this, coal, oil, liquefied natural gas, fertilizers, containers, and other goods that are already being exported and imported in bilateral trade between the two countries will also be handled through this route. Also, on this route, ships are planned to stop at other ports in russia and international ports. For example, this route starts from chennai and extends through thailand to Malaysia, Indonesia, Vietnam, Philippines, Taiwan, Shanghai, Japan, South Korea, and Vladivostok.
On january 25 this year, the India-Russia Workshop on Operationalization of the Eastern Maritime Corridor was held in Chennai. Anatoly Bobrakov, Deputy minister of Eastern Cities and Arctic Development of russia, participated in this. He said it takes 40 days for cargo to reach russia through the Suez Canal. But he said that through the Eastern sea Route, this time is reduced by 40% and the goods arrive in 24 days. indian Ports, Shipping and Waterways minister who participated in this seminar Mr. sarbananda sonowal said that since the Eastern sea Route is 5,608 kilometers shorter than the Suez Canal route, freight charges will be reduced to a large extent and thus goods can be procured at cheaper prices. If this route becomes operational, chennai will not only become a major port but will be able to import goods from around 10 countries at low cost. This will not only increase freight traffic in chennai but also increase manufacturing industries, employment, and exports.
As india becomes a manufacturing nation, besides improving its shipping system, it is imperative to have a low-cost operating system.
In this situation, it is usual for the newly inaugurated prime minister of india to make a state visit to the neighboring countries for the first time, but with the main goal of breaking this custom and improving the country's foreign policy, now narendra modi has gone on a state visit to russia after taking office for the 3rd time.
The most important aspect of the trip is the important step taken by the two countries to develop and implement the Chennai-Vladivostok sea freight route. The tense situation in West Asia is causing major disruptions to international trade. Due to this, there is a need to implement the 10,300 km Chennai-Vladivostok sea route. The route will connect Vladivostok, a major port city in eastern russia, with India's southeastern port hub, Chennai. This maritime cargo transportation is to be implemented under the Bilateral Economic Agreement between india and Russia.
The sea route was proposed in september 2019. An MoU was signed between india and russia while prime minister narendra modi was on his way to attend the Eastern Economic Forum in Vladivostok, Russia. According to this agreement, a sea route will be established between chennai Port and Vladivostok Port. Through this, coal, oil, liquefied natural gas, fertilizers, containers, and other goods that are already being exported and imported in bilateral trade between the two countries will also be handled through this route. Also, on this route, ships are planned to stop at other ports in russia and international ports. For example, this route starts from chennai and extends through thailand to Malaysia, Indonesia, Vietnam, Philippines, Taiwan, Shanghai, Japan, South Korea, and Vladivostok.
On january 25 this year, the India-Russia Workshop on Operationalization of the Eastern Maritime Corridor was held in Chennai. Anatoly Bobrakov, Deputy minister of Eastern Cities and Arctic Development of russia, participated in this. He said it takes 40 days for cargo to reach russia through the Suez Canal. But he said that through the Eastern sea Route, this time is reduced by 40% and the goods arrive in 24 days. indian Ports, Shipping and Waterways minister who participated in this seminar Mr. sarbananda sonowal said that since the Eastern sea Route is 5,608 kilometers shorter than the Suez Canal route, freight charges will be reduced to a large extent and thus goods can be procured at cheaper prices. If this route becomes operational, chennai will not only become a major port but will be able to import goods from around 10 countries at low cost. This will not only increase freight traffic in chennai but also increase manufacturing industries, employment, and exports.