Home |Sitemap |FAQs |Contact Us
Product Country
Increase Font Size Decrease Font Size
Menu
Market News
 
India hopeful of rupee trade with Russia will pick up: Official.
Jan 17, 2023

India is hopeful that rupee trade with Russia will pick up in the future after the two sides recently spoke about facilitating trade in local currencies, an Indian trade ministry official said on Monday.
 
India has been exploring a rupee trade settlement mechanism with Russia since soon after Moscow invaded Ukraine in February but the countries have not formalised the rules yet.
 
New Delhi has become Moscow's largest oil buyer after China, buying discounted Russian crude well below a $60 price cap agreed by Western nations while also trying to close a growing trade deficit with the country.
 
India is looking to enhance exports of electronic items to Russia, Satya Srinivas, a secretary at the trade ministry, told reporters in New Delhi.
 
The two countries are engaging 'at all levels' to resolve issues related to trade barriers and a payments mechanism, Srinivas said.
 
Russia, Sri Lanka, Mauritius and Bangladesh are some of the countries that are keen on rupee trade with India, he added.
    
economictimes.indiatimes.com

Archive
 

Trade Leads

Directory's

APEDA Agri Exchange

News & Analysis

Contact

  • Agricultural and Processed Food Products Export Development Authority (APEDA)
    (Ministry of Commerce & Industry, Govt. of India)

  • NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
    Phone : 91-11-41486013, 20863919, 20867008, 20867007