Strengthening Ties: Russia and India's Strategic Economic Cooperation

Eduard Grekov and Sergey Glazyev highlight growing investor interest and call for stronger economic ties between Russia and India. They emphasize the need to move beyond US dollar transactions and integrate digital currencies and exchanges to enhance trade efficiency.

Eduard Grekov, Chairman of Gas Machines Group and President of Birex Investment Company, emphasized the growing investor interest and strategic economic cooperation between Russia and India. Speaking at the Russian-Indian Forum 'From The Volga to The Ganges' organized by the National Stock Exchange, Grekov noted the readiness of Russian investors for joint projects with India and invited Indian investors to engage in Russian ventures.

Addressing rising tensions in the Strait of Hormuz, Grekov remarked that these were global issues propelled by Western ideologies, necessitating greater integration between nations for mutual growth and global security. Meanwhile, Sergey Glazyev, State Secretary of the Union State of Russia and Belarus, called for enhanced economic integration, focusing specifically on capital markets and payment systems.

Glazyev highlighted the shift away from dollar-based transactions due to sanctions on Russia and Belarus, advocating for the use of national currencies. He highlighted the potential of digital currencies to streamline trade processes and reduce costs, and stressed the need for direct integration between financial exchanges in India and Russia to aid the establishment of a rupee-rouble market.