India offers $1 billion loan for development of Russia’s Far East

Agencies
September 5, 2019

Vladivostok, Sept 5: Prime Minister Narendra Modi on Thursday said India will walk shoulder-to-shoulder with Russia in its development of the Far East and announced a $1 billion line of credit for the development of the resource-rich region.

Addressing the plenary session of the 5th Eastern Economic Forum here, Prime Minister Modi said the friendship between India and Russia was not restricted to governmental interactions in capital cities, but was about people and close business relations.

"India's connection to Russia's Far East go back a long way. India was the first country to open a Consulate in Vladivostok," he said.

"For the development of Far East, India will give line of credit worth $1 billion. My government has actively engaged East Asia as part of its 'Act East' policy. I firmly believe that today's announcement will add a new dimension to the economic diplomacy of the two countries," Modi said at a packed house here.

The Prime Minister, in the presence of Russian President Vladimir Putin, also unveiled the "Act Far East" policy to boost India's engagement with Russia's Far East region.

"Let us deepen the bond between India and Russia even further. India is proud of the achievements of the Indian diaspora. I am sure here in the Russian Far East too the Indian diaspora will make an active contribution towards the region's progress," Modi said.

"India is a proud and active participant in the various activities of the Eastern Economic Forum. Participation has come from top levels of government and industry," he said.

Indian firms have invested over $7 billion in taking stake in Russian oil and gas fields. India ventured into Russia when its flagship overseas firm ONGC Videsh in 2001 acquired a 20 per cent stake in Sakhalin-1 oil and gas field in Far East Russia.

OVL later bought Imperial Energy, which has fields in Siberia, as also stakes in Vankor oilfield in eastern Siberia.

IOC and its partners have picked up 29.9 per cent stake in a separate Taas-Yuryakh oilfield in East Siberia.

Russian oil firm Rosneft in 2017 bought Essar Oil, which operates in Vadinar oil refinery in Gujarat and some 5,500 petrol pumps, for $12.9 billion.

Modi appreciated the vision of Putin for the welfare for Russia's Far East, saying the President has opened up investment opportunities for India in the region.

"By declaring the development of the Russian Far East a 'national priority for the 21st century', President Putin has taken a holistic approach towards improving everything ranging from economy, education, health to sports, culture or communication," he said.

Prime Minister Modi also emphasised on India's commitment to become a five trillion dollar economy by 2024.

Modi, who arrived in Russia on a two-day visit on Wednesday, is the first Indian prime minister to visit to the Russian Far East Region.

He arrived here to participate in the 20th India-Russia annual summit with President Putin and the fifth meeting of the Eastern Economic Forum (EEF).

The forum focuses on development of business and investment opportunities in the Russian Far East Region, and presents enormous potential for developing close and mutually beneficial cooperation between India and Russia in the region.

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Well Wisher
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Thursday, 5 Sep 2019

LOL. Naave muluguttiruvaaga yaake beku maaraya inthaha saahasa.

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News Network
December 7,2025

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Since 1946, the United States has attempted 93 coups or “regime change” operations across the world — including two in Iran, US Special Envoy for Syria Tom Barrack has admitted.

Speaking to the UAE-based IMI Media Group, in remarks published by The National, Barrack said Washington tried twice to overthrow the Iranian government but failed both times. 

“For (Trump) then to be imputed with regime change — we had two regime changes in Iran already. Neither one worked. So I think wisely leave it to the region to solve,” said Barrack, who also serves as the US ambassador to Turkey.

His comments come six months after the US joined Israel in airstrikes against Iran during ongoing indirect nuclear negotiations between Tehran and Washington.

On June 13, Israel launched an attack on Iran that killed at least 1,064 people and hit civilian infrastructure. Days later, the United States targeted three nuclear facilities — Fordow, Natanz and Isfahan — in what Iran called a clear violation of international law. Iranian retaliation eventually forced a halt to the assault on June 24.

Barrack further claimed that US President Donald Trump and Foreign Secretary Marco Rubio are “not into regime change” and prefer a regional approach driven by Middle Eastern countries themselves. According to him, regional dialogue and non-interference by outside powers offer a more durable path forward.

He added that Washington is still open to an agreement with Tehran if Iranian authorities show “seriousness” and willingness to engage constructively.

However, Iran maintains the US has not shown readiness for meaningful talks. In an interview with Japan’s Kyodo News, Iranian Foreign Minister Abbas Araghchi said negotiations could advance only if Washington acknowledges Iran’s right to peaceful nuclear energy and lifts unilateral sanctions.

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coastaldigest.com news network
November 29,2025

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Mangaluru, Nov 29: Around 12,500 healthcare students from Medical, Dental, AYUSH, Pharmacy, Nursing, Physiotherapy and Allied Health Sciences colleges of Dakshina Kannada, affiliated to Rajiv Gandhi University of Health Sciences (RGUHS), took part in a massive walkathon to promote awareness on Organ Donation and Nasha Mukth Bharat.

The inaugural ceremony was held at Mangala Stadium. Dr Bhagavan B C, Hon’ble Vice-Chancellor of RGUHS, delivered the welcome address. The walkathon was flagged off by Shri U T Khader, Hon’ble Speaker of the Karnataka Legislative Assembly, and presided over by Shri Dinesh Gundu Rao, Hon’ble Minister for Health, Family Welfare and Dakshina Kannada District In-charge. Dakshina Kannada MP Shri Brijesh Chowta also addressed the students.

Music director Guru Kiran, MLA Dr Bharat Shetty (Mangalore North), Police Commissioner Shri Sudheer Kumar Reddy, Shri Manjunath Bhandary and Shri Harish Kumar were among those present.

Institution heads including Dr Haji U K Monu (Kanachur Colleges), Dr Shantharam Shetty (Tejaswini College), Dr Bhaskar Shetty (City Group of Colleges), Mr Abdul Rahiman (Kanachur Institute of Medical Sciences), and the District Health Officer, Mangalore, also participated.

The vote of thanks was delivered by Prof U T Ifthikar Fareed, Syndicate Member, RGUHS.

The event was organised by Dr U T Ifthikar Ali and Dr Shiva Sharan (Syndicate Members), Prof Vaishali (Senate Member), Prof Mohammad Suhail (Chairman, BOS Physiotherapy), Dr Sharan Shetty (Former Senate Member), along with principals and faculty of various colleges.

Students marched from Mangala Stadium to Karavali Grounds via MCC and Lalbagh signal. The event set a record as one of the largest gatherings of healthcare students for a social cause in the RGUHS Dakshina Kannada Zone.

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News Network
November 27,2025

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Congress president Mallikarjun Kharge on Thursday announced that he will convene a high-level meeting in New Delhi with senior leaders — including Rahul Gandhi, Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister D.K. Shivakumar — to resolve the escalating leadership turmoil in Karnataka and “put an end to the confusion.”

Kharge said the discussions would focus on the way forward for the ruling party, as rumours of a possible leadership change continue to swirl. The speculation has intensified after the Congress government crossed the halfway mark of its five-year term on November 20, reviving talk of an alleged 2023 “power-sharing agreement” between Siddaramaiah and Shivakumar.

“After reaching Delhi, I will call three or four important leaders and hold discussions. Once we talk, we will decide how to move ahead and end this confusion,” Kharge told reporters in Bengaluru, according to PTI.

When asked specifically about calling Siddaramaiah and Shivakumar to Delhi, he responded: “Certainly, we should call them. We will discuss with them and settle the issue.”

He confirmed that Rahul Gandhi, the Chief Minister, the Deputy Chief Minister and other senior members would be part of the deliberations. “After discussing with everyone, a decision will be made,” he said.

Meanwhile, Siddaramaiah held a separate strategy meeting at his Bengaluru residence with ministers and leaders seen as his close confidants, including G. Parameshwara, Satish Jarkiholi, H.C. Mahadevappa, K. Venkatesh and K.N. Rajanna.
Signalling calm, the Chief Minister told reporters, “Will go to Delhi if the high command calls.”

Shivakumar echoed a similar stance, saying he too would head to the national capital if summoned by the party leadership.

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