Russia is set to strengthen its role in India’s energy landscape, particularly through expanding its involvement in coal mining and new energy projects. Deputy Prime Minister of the Russian Federation, Alexander Novak, announced Russia’s ambitions during the seventh edition of the Russian Energy Week (REW) International Forum held in Moscow.

In his address, Novak highlighted Russia’s keen interest in the Indian market, particularly in the coal sector, which offers vast potential. “We see significant opportunities for increasing cooperation in the coal sector, especially in light of the growing global shortage of high-quality metallurgical coal,” Novak explained.

Russian coal companies, equipped with extensive resources, are eager to tap into India’s fast-growing energy market. With the world’s demand for energy on the rise and geopolitical dynamics shifting, Russia aims to solidify its standing as a key energy supplier to India.

“There are three major trends shaping the global energy landscape today: growing energy demand, technological advancements that are transforming both the economy and energy, and significant shifts in geopolitics,” Novak stated during the forum, whose theme this year was ‘Energy Cooperation in a Multipolar World’.
Novak further emphasised Russia’s openness to forging new energy partnerships with India, a longstanding ally. “We are always open to discussing new energy projects with India, whether in mining, processing, marketing, or power generation,” he said. However, he stressed that commercial negotiations are still ongoing, and any concrete details will only be disclosed upon formal agreement.

India remains one of Russia’s key energy partners, particularly in the oil and coal sectors. Russia is now India’s largest supplier of oil, setting new records for energy exports to the subcontinent. Novak expressed optimism about the prospects for further collaboration, noting the robust growth in trade turnover between the two countries.

The Russian Energy Week this year saw participation from over 5,300 delegates representing 81 countries, including significant delegations from China, Venezuela, Iran, the UAE, and South Africa. Russian companies with a presence in India, such as Uralmash, Gazprom, Rosatom, Silovye Mashiny, and BrahMos Aerospace, have been at the forefront of promoting energy cooperation between the two nations.

The forum underscores Russia’s commitment to fostering deeper energy ties with India and its broader ambitions in the global energy market. As the world pivots towards a multipolar order, Russia remains a pivotal player in meeting global energy demands, driven by its technological prowess and strong geopolitical alliances.