Russian Ambassador to India Denis Alipov has described the Northern Sea Route as a promising avenue for trade, industrial development and exploration, while emphasising the importance of correcting the bilateral trade imbalance and boosting Indian exports to Russia in order to achieve the ambitious target of ₹8,33,000 crores in trade by 2030.

He highlighted that the NSR could serve as a complementary route to existing initiatives such as the Chennai–Vladivostok maritime corridor and the International North–South Transport Corridor, offering India an alternative passage to Europe and northern Russia.

Alipov stressed that the NSR is not only of interest to Russia but is increasingly being explored by many countries worldwide.

He noted that India has already identified a wide range of goods and products that could be exported to Russia, ranging from high‑end technological items to agricultural produce such as mangoes.

He remarked humorously that mangoes themselves have become a technological product in modern times. The envoy explained that both sides are actively working to remove non‑tariff barriers and streamline transactions to facilitate smoother trade flows.

He revealed that India and Russia have almost completely switched to national currencies in their bilateral financial dealings, with 96 per cent of transactions now conducted in rupees and roubles. This shift has insulated trade from external financial pressures. Alipov pointed out that bilateral trade has grown by 16 per cent this year, while Indian exports have risen by nearly 10 per cent, reflecting a positive trajectory towards the long‑term target.

On connectivity, Alipov underlined that the NSR provides an alternative route to Europe and northern Russia, complementing the Chennai–Vladivostok sea corridor. He emphasised that such alternatives are crucial when traditional routes are jeopardised or threatened.

He disclosed that the first shipment of Indian goods through the NSR could take place as early as next year, with initial movements already underway. He added that the NSR shortens the route to Europe and North America by almost half, significantly reducing costs and transit times.

The envoy’s remarks align with President Vladimir Putin’s recent statement that Russia’s partner countries, including India, are showing growing interest in the NSR amid Western sanctions. India’s engagement with the Arctic shipping route is seen as part of its broader strategy to diversify trade corridors and enhance resilience against geopolitical disruptions.

Alipov also noted that discussions on trade and connectivity are being pursued through the intergovernmental commission co‑chaired by External Affairs Minister S Jaishankar and Russian First Deputy Prime Minister Denis Manturov.

The most recent meeting of the commission took place in Moscow on August 24, with numerous working groups and subgroups continuing to meet throughout the year. These mechanisms are addressing key issues to ensure that the two countries remain on track to meet their trade benchmark.

The envoy’s comments underscore the strategic significance of the NSR for India–Russia relations. By combining efforts to boost Indian exports, streamline financial transactions, and expand connectivity through new maritime corridors, both nations are laying the groundwork for a robust and diversified partnership that could reshape Eurasian trade dynamics in the coming years.

ANI