India to give USD 1 billion loan for development of Russia's Far East, says PM Modi
Vladivostok, Sep 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 USD 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 USD 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 USD 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 USD 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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Actor Esha Gupta returns to India after being stuck in UAE, says it was a ‘tough’ situation
Mumbai (PTI): Actor Esha Gupta on Tuesday said she has safely returned to India after being stranded in the United Arab Emirates amid escalating tension due to the Israel-US attack on Iran.
“Back home. Thank you all for your prayers and wishes. It was very tough to be in the situation we all faced. Truly God’s blessing to be safe,” Gupta said in a statement posted on Instagram.
Tensions in the middle east have escalated following a coordinated offensive launched by the United States and Israel against Iran on February 28. Iran responded by firing drones and missiles at Israel and US military installations across the Gulf, and also at the global business hub of Dubai.
The actor, best known for “Jannat 2”, “Rustom” and “Total Dhamaal”, also recounted the tense atmosphere at the Abu Dhabi airport.
“It started when I was at the airport on the 28th (Saturday). By 1 p.m., the airport was closed, chaos all around as none of us knew what had happened. Then the news started coming of the missile attack, and no one knew what the next minute held for us. Strangers consoled each other, all calling their families back home,” Gupta said.
The actor lauded the “strength” and the “composure” of the Abu Dhabi International Airport staff and added that ground security and airport personnel acted immediately to maintain order.
“I hadn’t checked in myself by then, so I took a turn and left for my hotel in Abu Dhabi,” she said, adding that passengers were provided accommodations at available hotels and highlighting the dedication of hotel staff during such a tense situation.
She further said the hotel management answered all their questions patiently to the best of their ability and that there was no shortage of any service.
“The lobby was full of people, including us, scared due to the security alert, but there was no chaos. The hotel security kept reassuring everyone. Not once did we see the people, all scared internally, create stress; we were all in this together,” Gupta said and even thanked the airline staff for their assistance.
“All this shows just the backbone of a country and its strength; they took action when needed, no blaming anyone, just strong decisions. Thank you to everyone who helped and is helping people of the world get back home. Your country is truly special,” she said.
Gupta concluded her post by thanking everyone who helped ensure her safe return.
“Thank you for our government for providing its citizens with reassurance and working towards getting us all back. Thank you to UAE government in working in solidarity with every country for the citizens of the world,” she said.
Actor Sonal Chauhan also updated her fans and admirers that she is heading back home after being stranded in Dubai.
The actor shared the update through her Instagram Stories with a few videos showing her travelling in a car on her way to the airport, with the song ‘Coming Home’ by Skylar Grey playing in the backdrop.
