Russian President Vladimir Putin has highlighted what he described as the immense untapped potential of India-Russia economic cooperation, stressing that opportunities between the two countries extend far beyond logistics and transportation.

He indicated that Moscow is keen to expand collaboration with New Delhi across a broad range of strategic and commercial sectors while also strengthening connectivity through major international transport networks.

Speaking about emerging global transport routes, Putin said Russia is actively exploring cooperation with India on international shipping and transit corridors that could reshape Eurasian trade flows. 

According to him, Russia has already conducted pilot voyages involving commercial vessels from China and South Korea and is now discussing similar cooperation with India in order to jointly utilise these routes.

A significant focus of Putin's remarks was the International North-South Transport Corridor (INSTC), a multimodal network linking India, Iran, Russia and wider Eurasian markets through a combination of maritime, rail and road infrastructure.

The corridor has long been viewed as a strategic alternative to traditional shipping routes and is intended to improve trade connectivity between South Asia, the Caucasus, Central Asia and Europe.

Putin stated that Russia remains prepared to support the project financially and provide credit resources where required. However, he noted that the completion of key infrastructure on Iranian territory remains essential before the corridor can achieve its full potential.

The Russian leader also sought to reassure stakeholders about the corridor's transit segment through Azerbaijan. He said discussions with Azerbaijani President Ilham Aliyev had confirmed support for the project and that no significant obstacles currently exist along that portion of the route.

The INSTC has gained increasing strategic relevance in recent years as participating countries seek faster and more resilient supply chains. Various studies and policy assessments have suggested that the corridor could significantly reduce transit times between India and Eurasia compared with conventional maritime routes passing through the Suez Canal.

Beyond economic matters, Putin praised Prime Minister Narendra Modi's continued diplomatic engagement regarding the Ukraine conflict. He described Modi as one of the few world leaders who consistently raises the issue of ending the war despite maintaining strong relations with Moscow.

According to Putin, Modi has repeatedly advocated mutually acceptable solutions and has shown a sustained interest in promoting dialogue. The Russian President said the Indian Prime Minister's proposals and ideas deserve recognition and appreciation.

Putin further stated that India has maintained a neutral position while remaining committed to helping create conditions for a peaceful settlement. He expressed gratitude for Modi's efforts and his desire to see the conflict resolved through negotiations at the earliest opportunity.

The discussion on alternative trade routes comes amid continued concerns over the security of major maritime chokepoints. Earlier, Russian Deputy Prime Minister Marat Khusnullin suggested examining the feasibility of a direct rail connection to the Indian Ocean, arguing that dependence on routes through the Bosphorus and the Strait of Hormuz could expose trade to geopolitical risks.

Khusnullin proposed assessing potential routes passing through Turkmenistan, Iran, Afghanistan and Pakistan, stating that any viable corridor providing access to India should be considered. Such proposals reflect Moscow's broader effort to diversify trade connectivity and strengthen links with Asian partners, particularly India.

These discussions have gained urgency following heightened instability in and around the Strait of Hormuz. The region experienced major disruptions after military confrontations involving the United States, Israel and Iran, including strikes on Iranian targets and subsequent retaliatory missile and drone attacks by Iran's Islamic Revolutionary Guard Corps against Israeli positions and US military facilities across the Middle East.

Following those developments, Tehran announced restrictions on maritime traffic involving countries associated with the military operations.

Given that the Strait of Hormuz carries roughly a quarter of global oil trade and around one-fifth of worldwide liquefied natural gas shipments, concerns over supply chain vulnerability have intensified interest in alternative overland and multimodal trade corridors.

Against this backdrop, Putin's latest remarks underscore Russia's intention to deepen strategic economic engagement with India, accelerate connectivity projects such as the INSTC, and broaden bilateral cooperation in trade, transport, energy and other sectors as both countries seek greater resilience in an increasingly uncertain global trading environment.

ANI