Dr Raj Kumar Sharma, a senior research fellow at New Delhi-based think tank NatStrat, said that Russia has been increasingly looking for "friendly countries" for carrying out joint projects in the Arctic Region, which was partly due to the "pause" in the activities of the eight-nation Arctic Council in the wake of the Ukraine conflict.
"The Arctic energy resources are free from any kind of political instability, unlike in West Asia. It is a stable source of energy for India and we can look at the possibility of long term contracts," remarked Sharma.
Sharma said that joint projects in the sphere of hydrocarbons, infrastructure development, connectivity, timber and mining could shape the future of India-Russia cooperation in the Arctic Region.
"India and Russia also need to diversify their relationship as the defence trade dominates the ties. So, Arctic is one such area that helps to diversify India-Russia ties," the academic said.
India-Russia Projects in the Arctic
Sharma highlighted that issues like climate change in the Arctic region were "common to humanity".
"It is unfortunate that the Arctic Council is not functioning. Even during the Cold War, the cooperation over the Arctic did not come to a halt. As an observer, India can only hope that the Arctic Council starts functioning again," the think-tanker stated.