Moscow: India and Russia on Tuesday expressed readiness to actively work to expand logistics links with an emphasis on increasing the capacity of infrastructure, including for implementation of the Chennai-Vladivostok Eastern Maritime Corridor and the International North-South Transport Corridor, as well as using the potential of the Northern Sea Route.

The joint Statement following the 22nd India-Russia Annual Summit said the two sides share approaches on building a new architecture of stable and efficient transport corridors, and pay close attention to the development of promising production and marketing chains in Eurasia, including for the purpose of implementing the idea of a Greater Eurasian space.

The statement was issued following talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.

It said the two sides will continue joint efforts to intensify the use of INSTC route in order to reduce the time and cost of cargo transportation and to promote connectivity in the Eurasian space.

Cooperation in the field of transport and logistics will be based on the principles of transparency, broad participation, local priorities, financial sustainability and respect for sovereignty and territorial integrity of all nations, the statement said.

"The Sides support cooperation in developing shipping between Russia and India via the Northern Sea Route. For this purpose, they expressed readiness to establish a joint working body within the IRIGC-TEC for cooperation within the Northern Sea Route."

The two leaders noted with satisfaction the results of the meeting of the Sub-Working Group on Civil Aviation (February, 2023) in Moscow. They agreed to cooperate in the field of civil aviation and civil aviation security.

India and Russia reiterated the importance of the robust and wide-ranging cooperation in the energy sector as a significant pillar of the Special and Privileged Strategic Partnership. In this context, they noted the continued special importance of bilateral trade in energy resources and agreed to explore new long-term contracts.

The sides appreciated the ongoing cooperation in the coal sector and agreed to explore the possibility for further increasing supply of coking coal to India, and the opportunities of exporting anthracite coal from Russia to India.

The two sides expressed their readiness to intensify trade and investment cooperation in the Far East and the Arctic zone of the Russian Federation.

In this regard, they welcomed the signing of the Program of India-Russia cooperation in trade, economic and investment spheres in the Russian Far East for the period from 2024 -2029, as well as of cooperation principles in the Arctic zone of the Russian Federation.

The Program of Cooperation will provide the necessary framework for further cooperation between India and the Russian Far East region, especially in the sectors of agriculture, energy, mining, manpower, diamonds, pharmaceuticals, maritime transport.

The two sides reiterated the need for the development of interregional dialogue between the regions of the Russian Far East and the Indian States and encourage the establishment of twinning relations to develop business, trade, educational, cultural exchanges and projects.

The Russian side invited interested Indian investors to implement high-tech investment projects within the framework of the Territories of Advanced Development in the Russian Far East.

The Indian Side appreciated participation of the delegation of the Russian Ministry of Far East and Arctic Development in the Vibrant Gujarat Global Summit in January 2024

The Russian Side welcomed the participation of Indian delegations in the Saint Petersburg International Economic Forum (June 2023) and the Eastern Economic Forum (September 2023).

The Sides noted the contribution of India-Russia Business Dialogue organized on the sidelines of these economic forums for the promotion of bilateral trade, economic and investment cooperation.

India and Russia noted the importance of cooperation in the peaceful uses of nuclear energy as a significant component of the strategic partnership.

They welcomed the progress achieved in the construction of the remaining nuclear power plant units at Kudankulam and agreed on adhering to the schedule, including to the timelines for delivery of supplies.

Both Sides noted the importance of further discussion on the second site in India in accordance with earlier signed agreements.

They agreed to continue technical discussions "on the VVER 1200 of the Russian design, localization of equipment and joint manufacturing of NPP components as well as on cooperation in third countries".

The two sides confirmed their intention to broaden cooperation in Nuclear Power including fuel cycle, life cycle support for operating KKNPPs and non-power applications.

Noting the importance of cooperation in Space, the Sides welcomed the enhanced partnership between the Indian Space Research Organization and the Russian State Space Corporation "Roscosmos" in the use of outer space for peaceful purposes, including in human spaceflight programs, satellite navigation and planetary exploration.

The Russian Side congratulated India on the successful landing of Chandrayaan-3 as a long stride in the exploration of outer space and the impressive progress made by India in science and engineering, which can be mutually beneficial for future cooperation. The two sides agreed to explore prospects of mutually beneficial cooperation in rocket engine development, production and use.

The statement said that Military and Military-Technical Cooperation has traditionally been the pillar of Special and Privileged Strategic Partnership between India and Russia, which has grown from strength to strength through several decades of joint efforts and fruitful cooperation, steered by the Intergovernmental Commission on Military and Military Technical Cooperation (IRIGC-M&MTC).

The two leaders agreed to hold the 21st round of IRIGC-M&MTC in Moscow in the second half of 2024.

"Responding to India's quest for self-sufficiency, the partnership is reorienting presently to joint research and development, co-development and joint production of advanced defence technology and systems. The Sides confirmed commitment to maintain the momentum of joint military cooperation activities and expand military delegation exchanges."

Both Sides agreed to encourage joint manufacturing in India of spare parts, components, aggregates and other products for maintenance of Russian origin arms and defence equipment under Make-in-India program through transfer of technology and setting up of joint ventures for meeting the needs of the Indian Armed Forces as well as subsequent export to mutually friendly third countries by the Sides' approval.

In this regard, the two sides agreed on establishing a new Working Group on Technological Cooperation and discussing its provisions during the next meeting of IRIGC-M&MTC.

(With Inputs From Agencies)