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Source: The post is based on the article “Union Minister extends invitation for an Indo Russian Workshop on Eastern Maritime Corridor in Chennai” published in PIB on 12th September 2023
What is the News?
The Union Minister of Ports, Shipping & Waterways has extended an invitation to Russia for an Indo Russian Workshop on Eastern Maritime Corridor(EMC).
What is the Eastern Maritime Corridor?
The Eastern Maritime Corridor is a proposed sea route between the Indian port city of Chennai and the key Russian port Vladivostok.
The route passes through the Sea of Japan, the South China Sea and Malacca Strait.
This maritime corridor is part of the vision to address the current lack of connectivity between India and Russia.
What are the expected benefits for India from this Eastern Maritime Corridor?
Reduce Time: This sea route is estimated to reduce the time required to transport cargo between Indian and Russian Ports of Far-East Region by up to 16 days, i.e., 24 days in comparison to over 40 days currently taken to transport goods from India to Far East Russia via Europe.
– Present trade route between Mumbai in India and St Petersburg in Russia covers a distance of 8,675 nautical miles which takes approximately 35 to 40 days.
Presence in South East Asian region: The new route would give India the largest presence in the South East Asian region. The strategic location of Chennai Port on the Bay of Bengal makes it an ideal gateway for trade with Southeast Asian countries like Thailand, Vietnam, and Indonesia.
Access to Russia’s Far East Region: The Port of Vladivostok in Russia provides access to the resource-rich Far East region, offering immense opportunities for Indian businesses to tap into the market sectors like energy, mining, and technology.
