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India explores major investments in hydrocarbons & renewables in Russian Arctic region

India is exploring the possibility of major investments in fossil fuels and other areas of the energy sector in Russia’s Arctic region, which is a new global source for both renewables and non-renewables.

India’s current investment in Russia stands at $15 billion in oil and gas projects and it is looking to expand its presence in the new oil project being developed by the Russian national oil company Rosneft in the Arctic, according to people aware of the matter.

The Indian Ambassador to Moscow hinted in a recent briefing for local media in the Russian capital at India’s growing interests in the Arctic region.

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