Indian press: Moscow and New Delhi begin to settle accounts in rupees

41
Indian press: Moscow and New Delhi begin to settle accounts in rupees

According to the Indian newspaper Mint, several banks from Russia were given the opportunity to open Indian bank accounts in the national currency of India in order to use these funds in trading operations.

According to the publication, we are talking about 5-6 Russian banks that have already opened 10 such accounts. Starting next week, Russia will be able to settle accounts with India on the main items of trade in rupees.



Press of India: Moscow and New Delhi begin to conduct calculations in rupees.

According to the head of the Federation of Indian Export Organizations, Ajay Sahay, this step will allow India to overcome the trade imbalance in the trade turnover between Russia and India, since now Russian imports to India exceed exports by 10 times. Payments for Indian exports to Russia are already partly made in Russian rubles.

There is a very good chance of increasing Indian exports to Russia if Russia pays Rs for Indian goods.

Sahai said.

The expert explains this by the fact that in the process of trade, Moscow will accumulate a large amount of Indian currency, which it will have to either invest in the Indian economy or direct it to additional purchases of Indian goods. At the same time, Sahay added that “Russia needs almost everything in the world”: from fruits, vegetables, medicines and medical equipment to products in the field of mechanical engineering.

This year, against the background of events in Ukraine, trade between Moscow and New Delhi has increased dramatically, especially due to the supply of Russian oil to India. In terms of supplies of black gold to India, Russia took first place, overtaking Saudi Arabia.

At the same time, there is still some fear in India regarding trade transactions with Russia, based on the fear of falling under Western sanctions due to the fact that the main transactions between our countries are carried out in US dollars.
Our news channels

Subscribe and stay up to date with the latest news and the most important events of the day.

41 comment
Information
Dear reader, to leave comments on the publication, you must sign in.
  1. +9
    December 12 2022
    That's it. Indian Amit listens and counts rupees. Another hello to dollar settlements and sanctions... your sari is closer to your body....
    1. +1
      December 12 2022
      Quote: voice of reason
      rupee counts.

      Rupee, ruble - sounds almost the same!
      1. +3
        December 12 2022
        Quote from Uncle Lee
        Rupee, ruble - sounds almost the same!

        And the rate for a long time was one to one, now with the strengthening of the ruble, the rupee has given up - 76 kopecks.
        1. +1
          December 12 2022
          Yes, everything has been "preparing" for fifteen years.
          When will they finally switch over?
          What will be the volume of this currency turnover?
      2. +1
        December 12 2022
        Quote: Uncle Lee
        Quote: voice of reason
        rupee counts.

        Rupee, ruble - sounds almost the same!

        So it has begun .. China also told the Saudis that they are now calculating in yuan .. The system proposed by Russia has worked!
        Eh Gaddafi (dead man), such cases need to be prepared for a long time and consultations carried out .. And not just blurt out to the whole world .. hi
        Here the screeching will start again hehe
    2. Maz
      +1
      December 12 2022
      Having put it to the nose, the Indian defense department decided to postpone for the time being "to the right" plans for the construction of a second domestic aircraft carrier, having two in the combat strength of its Navy and already on the move: INS VIKRAMADITYA R33 and INS VIKRANT R11.

      The construction of a new aircraft carrier will cost about 7 billion dollars, and a little less will be required for its air wing.
      Apparently, such spending is currently recognized as inappropriate.

      Although, given the dumping prices at which India is now buying up its oil and coal out of Russian hopelessness, then on the mere resale of this stuff with a coefficient of 1,5 in your favor, you can afford at least five aircraft carriers with a full set of escort ships and two sets of air wings to to each.
      1. 0
        December 12 2022
        What difference does it make to you, if they want, let them build it. The moment has already slipped in the press that Modi does not want to meet with Putin, and WHAT?
    3. +2
      December 12 2022
      Quote: voice of reason
      That's it. Indian Amit listens yes rupees counts

      The essence of the article is this - We will buy in the former English colony - "medicines, medical equipment, and engineering products." And we will sell raw materials (oil, etc.) in the old fashioned way - and we are proud of it! Previously, the colonialists sold goods to the natives, and pumped out raw materials. what hi
      1. +1
        December 12 2022
        This has always been the case, only now it will be without the US dollar. So where do you see the problem then?
  2. +4
    December 12 2022
    Well, what for this dollar is needed? Can we negotiate...
    1. +1
      December 12 2022
      Well, for example, now the imbalance in trade is tenfold, if the Indians pay in rupees, then where should we put them? Green can be sold on the stock exchange, and rupees again at a discount? And if you enter trading without an imbalance, then where is the money to be taken for the SVO and the budget?
      1. +1
        December 12 2022
        Is the rupee freely convertible? Then you can just sell it. For yuan or something.
  3. +9
    December 12 2022
    At the same time, Sahay added that “Russia needs almost everything in the world”: from fruits, vegetables, medicines and medical equipment to products in the field of mechanical engineering.
    There was a time when India needed medical equipment and engineering products.
    1. +6
      December 12 2022
      and don't speak. Soviet leaders are turning over in their graves request
    2. +4
      December 12 2022
      Quote: kor1vet1974
      There was a time when India needed medical equipment and engineering products.

      And not so long ago! About 30 years ago. Almost all of Asia belonged to the "third world" countries. Now we buy UAVs in Iran, anything in China (even Moskvich-3), and in India ...
      And we will again be proud that the SA has overtaken in the supply of oil and gas! lol lol hi
    3. +1
      December 12 2022
      Legends of an ancient powerful civilization whose artifacts can still be found here.
  4. +2
    December 12 2022
    Agriculture and light industry will certainly come in, with the rest - questions ... but I think that it will not be superfluous.
    1. +1
      December 12 2022
      Elephants, more elephants! Good Indian elephants! laughing
      1. +1
        December 12 2022
        An excursion to the zoo came, the guide ....
        -Here we have an elephant: eats 5 tons, poops 15 - Do you have any questions?
        -There is. Where is the elephant?
        -And who the hell: you need such a .... ets! wassat
      2. +1
        December 12 2022
        India has long advanced pharmaceuticals, for example
        1. 0
          December 12 2022
          India has long advanced pharmaceuticals, for example

          Well, so-so. The Indians could not make a vaccine.
          Yes, and in the Russian Federation, the pharmaceutical industry has pulled itself up well.
      3. 0
        December 12 2022
        Quote: Cat Alexandrovich
        Good Indian elephants!

        Are you talking about tea bags now? )))
  5. +7
    December 12 2022
    As I said a couple of days ago, the Peter-Delhi overland trade route launched without fanfare will still have its say. This is a direct consequence - by itself, it will significantly reconfigure trade flows in the world as a whole, and given that it also goes through Pakistan, it is akin to a revolution in the region - and here the United States did not stand side by side here.
    That is, the logical consequence is to throw out an unnecessary and interfering old mattress from the region
    1. +2
      December 12 2022
      May I ask from which side this route bypasses the Caspian Sea? If from the west, then the passages through the Caucasus are overloaded to the most reluctant. If from the East, then there are a lot of borders, and both Pakistan and China are not the most calm and friendly region in relation to India. Or is it by sea through the Caspian Sea, then Iran, then by sea to India?
      1. +2
        December 12 2022
        Quote: kamakama
        May I ask from which side this route bypasses the Caspian Sea?

        As far as I remember, the first train through the Caspian went by sea, but it is supposed to be western, through Azerbaijan. In general, they screwed up a lot of things there, it is in the Caspian that the route is duplicated, it seems they are also going to include the eastern one too - if it pays off. Everything is solved there, because there each participant specifically wins in terms of money
        1. +2
          December 12 2022
          I'm more interested in something else. And what does Pakistan think about this, which, to put it mildly, is at odds with India? there is no way to go around it dry. And secondly, what conclusions will Armenia have to draw when working through Azerbaijan?
          Thirdly, at one time I worked out a car route in Iran. There is such a breathtaking thing as a carnet de passage, which makes crossing the border an unforgettable experience, especially for trucks. Maybe things have changed a lot in 10 years, but I'm not sure.
          1. +2
            December 12 2022
            So that's the joke - I wrote, Pakistan just got very animated - for all the trouble with India, it is the transit in two directions that gives them money badly. I myself am surprised, but the paki just celebrated that first caravan most of all. In Russia, they practically did not mention
  6. +1
    December 12 2022
    Those. are we offered to buy rupees, and then with rupees to buy "almost everything in the world"?
    And at the same time, they are also ready to buy oil only for rupees.
    Let me guess, with the yuan the same trick?
    1. +2
      December 12 2022
      Quote from Gromit
      Those. are we offered to buy rupees, and then with rupees to buy "almost everything in the world"?
      And at the same time, they are also ready to buy oil only for rupees.
      Let me guess, with the yuan the same trick?

      This is a well-known principle of trade relations between the mother country and the colony - goods in exchange for raw materials. It is clear who the colony is here. wassat
  7. +1
    December 12 2022
    Quote from Uncle Lee
    Rupee, ruble

    And in the old days, these were pieces of silver of the same weight.
    I don’t remember something, how the squad of Prince of Kyiv, Oleg, dug the Black Sea in 882 ...
  8. +4
    December 12 2022
    (since now Russian imports to India exceed exports by 10 times.) - I don’t understand. When we sell, this is export, and when we buy, this is import.
    1. 0
      December 12 2022
      Quote: Alexander 3
      I didn’t understand. When we sell, this is export, and when we buy, this is import.

      this is on our side, but if you stand on the side of India, then everything is correct. )))
      1. +2
        December 12 2022
        Then you need to write correctly - Import to India from Russia and export to Russia.
  9. +1
    December 12 2022
    There are many high-tech Western industries in India.
    1. 0
      December 12 2022
      There are many high-tech Western industries in India.

      What for example? Something about the Indian ABS is not heard, and there is also silence about lithographs. Unfortunately, in India with microelectronics, everything is not very good. Yes, and Indian engineering has questions.
      What can you buy there?
      1. 0
        December 12 2022
        I am connected with refrigeration equipment. In India, the American YORK rivets refrigeration equipment - space for us. And these are not household air conditioners.
  10. +2
    December 12 2022
    The USSR traded well with India in rubles / rupees. There is a positive experience. So why do we need a "green wrapper"?
  11. +2
    December 12 2022
    At the same time, there is still some fear in India regarding trade transactions with Russia, based on the fear of falling under Western sanctions.
    The desire to climb a Christmas tree and not get ripped off is understandable. But it's hopeless.
  12. +2
    December 12 2022
    What can Russia buy on the international market with Indian currency?

    Curry? Rice? Coconut?
  13. 0
    December 13 2022
    Quote: fa2998
    Quote: voice of reason
    That's it. Indian Amit listens yes rupees counts

    The essence of the article is this - We will buy in the former English colony - "medicines, medical equipment, and engineering products." And we will sell raw materials (oil, etc.) in the old fashioned way - and we are proud of it! Previously, the colonialists sold goods to the natives, and pumped out raw materials. what hi

    I'll just ask - can you link here to your personal production (business) of a high-tech product with a high added value?????
    1. 0
      December 13 2022
      Drug protection is based on intellectual property rights and Indian law provides for ignoring Western intellectual property protection, not how advanced Indian medicines are.

      Now you can reproduce these chemical formulas yourself. If you are not politically bribing India, then why don't you make them yourself and why buy Indian ones?

      “Government Decree No. 299 clarified that in relation to patent holders from countries unfriendly to Russia, the amount of compensation will be ...”

      By the way, India relies on imports for almost 80% of its medical products, especially high-tech equipment such as cancer diagnostics, medical imaging, ultrasound scanning and PCR equipment.

      I don't understand why someone in Russia says that importing medical equipment to India confuses the concept of copying chemical molecular formulas with the production of complex medical devices and equipment?

"Right Sector" (banned in Russia), "Ukrainian Insurgent Army" (UPA) (banned in Russia), ISIS (banned in Russia), "Jabhat Fatah al-Sham" formerly "Jabhat al-Nusra" (banned in Russia) , Taliban (banned in Russia), Al-Qaeda (banned in Russia), Anti-Corruption Foundation (banned in Russia), Navalny Headquarters (banned in Russia), Facebook (banned in Russia), Instagram (banned in Russia), Meta (banned in Russia), Misanthropic Division (banned in Russia), Azov (banned in Russia), Muslim Brotherhood (banned in Russia), Aum Shinrikyo (banned in Russia), AUE (banned in Russia), UNA-UNSO (banned in Russia), Mejlis of the Crimean Tatar People (banned in Russia), Legion “Freedom of Russia” (armed formation, recognized as terrorist in the Russian Federation and banned)

“Non-profit organizations, unregistered public associations or individuals performing the functions of a foreign agent,” as well as media outlets performing the functions of a foreign agent: “Medusa”; "Voice of America"; "Realities"; "Present time"; "Radio Freedom"; Ponomarev; Savitskaya; Markelov; Kamalyagin; Apakhonchich; Makarevich; Dud; Gordon; Zhdanov; Medvedev; Fedorov; "Owl"; "Alliance of Doctors"; "RKK" "Levada Center"; "Memorial"; "Voice"; "Person and law"; "Rain"; "Mediazone"; "Deutsche Welle"; QMS "Caucasian Knot"; "Insider"; "New Newspaper"