PM Narendra Modi at Eastern Economic Forum: Announces $1 Billion Line of Credit And Cites Gandhi-Tolstoy Friendship

Indian PM Narendra Modi at Eastern Economic Forum: Announces $1 billion line of credit and cites Gandhi-Tolstoy friendship.

During his the 2nd day of his Russia visit, PM Narendra Modi addressed the Eastern Economic Forum. He announced a $1 billion line of credit and launched Russia's Far East policy. He called the relation of India and the Far East to be "ages-old".

He was invited at the forum as the guest of the honor. He started the event by launching the Indo-Russian Innovation Bridge. Then he began his address by launching Russia's new diplomatic policy Far East. He also thanked Russia for creating opportunities for India.

He said that the ties between the two nations go back a long time and "Indo-Russian ties are based on mutual trust and respect." He also praised the Russian President Vladimir Putin for his 'Far East' policy. Addressing the plenary session of the Eastern Economic Forum, PM Modi said his government has engaged nations in East Asia under India's 'Act East' policy. He announced a $1 billion line of credit and said that this will add a new dimension to economic diplomacy.

This line of credit will benefit Russia's far east region and will also keep a check on China's presence in the region. He said, "India is proud to be an active participant in the Eastern Economic Forum. High-level delegations from India have come to this prestigious Forum. We look forward to stronger India-Russia cooperation in areas like healthcare, education, skill development, and more sectors."

He also talked about the friendship ties between Leo Tolstoy and Mahatama Gandhi. He said, "This year, the entire world is celebrating Mahatma Gandhi's 150th birth anniversary. Tolstoy and Gandhi had an indelible effect on each other. Let India and Russia make their relations better by taking inspiration from them. Let both these nations become bigger stakeholders in each other's development."

He also added that India is a proud and very active participant in the various activities of the Eastern Economic Forum. And that the participation has come from the top levels of government and industry.

He also emphasized on India's commitment towards becoming a $5 trillion economy. He again highlighted the bilateral ties of both the countries by saying, "India and Russia's friendship isn’t restricted to governmental interactions in capital cities. This is about people and close business relations."

Earlier in the day, during his visit, President Putin took him at a tour of Zvezda shipbuilding complex in Vladivostok. They met there for discussing the strategic partnership between the two countries; the talks lasted almost the whole day. The dialogue mainly focused on cultivating economic cooperation. The sides have set the goal of bringing bilateral trade turnover to $30 billion by 2025. A total of 15 documents were signed after the talks, according to the reports by the Russian media.
According to the Ministry of External Affairs, of India, 50 such documents were signed.
Russia, meanwhile, released special stamp for commemorating the 150th birth-anniversary of Mahatama Gandhi and gifted it to the Indian PM Narendra Modi. He also became the first Indian PM to visit Russia's far east region.
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