BRICS Summit: Arctic ties high on Modi-Putin agenda

The upcoming meeting between India's Prime Minister Narendra Modi and Russia's President Vladimir Putin, scheduled to take place next week on the sidelines of the BRICS Summit, will focus on bolstering cooperation in the Arctic region. Recently, Russian Foreign Minister Sergey Lavrov highlighted ongoing dialogue with New Delhi on issues related to high latitudes in an article published in Arctic.ru.

The Russian-Indian Intergovernmental Commission on Trade, Economic, Scientific, Technical, and Cultural Cooperation recently discussed this matter.

Indian corporations have already begun developing the resource potential of Russia's Arctic region. Experts suggest that the Arctic might become a significant area of cooperation between Russia and India over the next two decades. During a recent speech, Putin referred to the strengthening of India-Russia partnership in the Arctic region, having recently visited a shipyard specializing in the construction of vessels suitable for the Arctic.

India plans to send its first cargo ship along the Northern Sea Route (NSR) next year. This route, also known as the Arctic route, could reduce the distance traveled by Indian vessels to eastern and northern Europe by up to 40% and cut travel time by approximately two weeks compared to traditional routes via the Suez Canal. Russia's Arctic region of Arkhangelsk is engaged in discussions with India to leverage the economic potential of the NSR.

Potential areas of collaboration include shipbuilding at Arkhangelsk's shipyards and the development of port facilities to facilitate cargo exchange between India and Russia.

The Arctic region boasts substantial hydrocarbon deposits, including LNG, as well as other valuable natural resources like nickel, copper, platinum, palladium, and rare earth elements. The NSR, a 5,600-km sea passage traversing Russia's Arctic, is currently impassable due to thick ice for most of the year. However, climate change and receding sea ice are gradually extending the annual navigation window.

To navigate the NSR, specialized ice-strengthened ships are required. Russia's nuclear major, Rosatom, which manufactures these specialized vessels, is set to sign a Memorandum of Understanding (MoU) with India for the NSR.