India and Russia launch Chennai-Vladivostok maritime corridor to strengthen trade ties

  • November 29, 2024
  • News

India and Russia have officially operationalized the Chennai-Vladivostok Maritime Corridor (CVMC), a strategic sea route aimed at boosting bilateral trade and enhancing connectivity. Announcing the development, the Indian Minister of Ports, Shipping, and Waterways Sarbananda Sonowal called it a significant milestone in diversifying trade routes and improving logistical efficiency between the two nations.

First conceptualized in September 2019, the corridor stretches approximately 10,300 kilometres, linking Chennai to Vladivostok and connecting key Indian ports such as Paradip and Visakhapatnam.

The CVMC is expected to reduce transit times by 40%, revolutionizing trade logistics for both countries. Early shipments along the route have already begun, transporting key commodities like crude oil, liquefied natural gas, fertilizers, machine parts, and textiles.

This initiative aligns with India’s Act East Policy, aimed at strengthening ties with East Asia and the Asia-Pacific region. Experts believe the corridor will play a critical role in bolstering India-Russia trade relations, while also contributing to regional logistics and global supply chain resilience.

As the CVMC gains momentum, its long-term impact on trade and economic integration will be closely monitored, underscoring its potential as a transformative link in the global trade network.