https://sputniknews.in/20230912/russian-transport-major-looking-to-set-up-logistics-hub-in-india-4213795.html
Russian Transport Major Looking to Set Up Logistics Hub in India
Russian Transport Major Looking to Set Up Logistics Hub in India
Sputnik India
Russian transport group Fesco is planning to open a logistics hub in India, the company's president Arkady Korostelev said on Tuesday.
2023-09-12T21:06+0530
2023-09-12T21:06+0530
2023-09-12T21:06+0530
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Russian transport group Fesco is planning to open a logistics hub in India, the company's president Arkady Korostelev said on Tuesday.Previously, another high-ranking official of Fesco, which is engaged in operating ports, railways, and sea routes in the Eurasian country, announced that the firm was already holding talks with the Russian Ministry of Industry and Trade over the proposal of creating a spacious hub in the South Asian nation. Andrei Severilov, who is the company's head of the board of directors, was optimistic about the proposal moving forward, given that India's economic relations have been witnessing an unprecedented uptick in the last 18 months.From having an almost zero contribution to India's oil basket, Russia now is the largest crude supplier to New Delhi, with volumes hitting the 2 million barrels per day mark for three months in succession since June 2023.Besides, India has continued to import fertilizers from its long-time strategic partner, which has given further heft to the economic relations of the two countries.
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Russian Transport Major Looking to Set Up Logistics Hub in India
India has emerged as one of Russia's most reliable partners of late, with trade between the two countries crossing the $33 billion mark in the first seven months of this year.
Russian transport group Fesco is planning to open a logistics hub in India, the company's president Arkady Korostelev said on Tuesday.
"Yes, we are considering this option," Korostelev said in response to media queries in the Russian Far East city of Vladivostok which is hosting the four-day Eastern Economic Forum at present.
Previously, another high-ranking official of Fesco, which is engaged in operating ports, railways, and sea routes in the Eurasian country, announced that the firm was already holding talks with the Russian Ministry of Industry and Trade over the proposal of creating a spacious hub in the South Asian nation.
Andrei Severilov, who is the company's head of the board of directors, was optimistic about the proposal moving forward, given that India's
economic relations have been witnessing an unprecedented uptick in the last 18 months.
From having an almost zero contribution to India's oil basket, Russia now is the largest crude supplier to New Delhi, with volumes hitting the 2 million barrels per day mark for three months in succession since June 2023.
Besides, India has continued to import fertilizers from its long-time strategic partner, which has given further heft to the economic relations of the two countries.
