Maritime Silk Route Current Affairs - 2020
India is planning to launch major connectivity initiative, connecting Chennai with key Russian port Vladivostok via sea route with an aim to harness natural resources from Northeast Asia and Western Pacific region.
The Chennai-Vladivostok sea route will enable to transfer cargo between Chennai and Vladivostok in 24 days in comparison to over 40 days currently taken to transport goods from India to Far East Russia via Europe.
The proposed maritime route can be transformed into corridor that could juxtapose with Indo-Japan Pacific to Indian Ocean Corridor to counter China’s Maritime Silk Route (MSR) under Border Road Initiative (BRI) which connect entire South East Asia through road, shipping and rail links.
Russia is sensitive to growing Chinese presence in Russia’s Far-eastern region particularly increasing population from China which are settling there. It fears that this pattern could change demographics of Far-east Russia. The growing presence of other countries including India will help to bring balance China’s presence in far east region.
India was first country to establish resident Consulate in Vladivostok in 1992. India’s current engagement with region is limited to isolated pockets such as Irkut Corporation in Irkutsk where Mig and Sukhoi aircraft are built and over $6 billion worth of investments by ONGC Visesh Limited in Sakhalin 1 project. The region has wealth of natural resources such as timber, mineral resources (coal & diamonds) and precious metal deposits (gold, platinum, tin and tungsten) and oil and natural gas.