The Indian and Russian navies are conducting the PASSEX exercise in the Arabian Sea. The Indian Navy and the Russian Navy conducted PASSEX drills in the Arabian Sea near the port of Cochin. The drill was participated in by the Indian Navy's locally built and designed guided-missile warship, INS Kochi.
The inclusion of Russia as a full member of the Indian Ocean Rim Association (IORA) has finally opened a lot of opportunities for cooperation with India, along with a potential maritime authentication scheme to generate balance in the Indian Ocean Region (IOR) and research and scientific endeavors.
- In the Arctic Area:India has intellectual, ecological, industrial, and security interests in the Arctic region, and the Russian Arctic may be able to meet India's energy security goals.
- Hydrocarbons: Russia possesses the world's biggest confirmed natural gas reserves, with enough to last for around 80 years at present production rates.
- Strategic Minerals: Cobalt, copper, diamonds, gold, iron, nickel, platinum, rising valuable minerals, titanium, vanadium, and zirconium are also abundant in the Russian Arctic.
The Arctic region contributes 90 percent of Russia's nickel and cobalt output, 60 percent of copper production, and more than 96 percent of platinum metal production. Indian rare earth deposits are more abundant in lighter fractions but lacking in heavy fractions. The majority of rare earth materials utilized in important industries, such as defense, fiber optic telecommunications, aviation, and nuclear energy, are also essential to numerous clean energy technologies, such as wind turbines and electric cars. As a result, the Russian Arctic can lessen India's significant shortages of rare earth and vital minerals.
Route of the Northern Seas: The Northern Sea Route, or NSR, offers no advantages to Indian ports and is lengthier than the present route to Rotterdam. However, there are alternative ways to collaborate on the NSR. Russia has stated its desire, among other things, to provide year-round, secure, continuous, and cost-effective transportation in the NSR waters. India has stated that it is eager to collaborate with Russia, noting that 'India and Russia would also be allies in the development of the NSR for world trade and business.' In response, Russian President Vladimir Putin declared that Russia welcomes India's interest in the NSR. Approximately one-third of the country's coal deposits and hydro-engineering resources are accessible here. The region's forests account for over 30% of Russia's total forest acreage. The two nations have agreed to collaborate on the development of RFE, including NSR. In 2019, Government stated a USD 1 billion credit line to support the development of RFE during the Eastern Economic Forum (EEF).
