India and Russia Strengthen Economic Ties through National Currency Trade

India and Russia are enhancing economic relations by promoting trade in their national currencies. Efforts aim to address trade imbalances and bolster bilateral commerce. The visit focused on boosting Indian exports to Russia, reinforcing industrial partnerships, and tackling global trade challenges through mutual cooperation.

India and Russia are intensifying efforts to strengthen economic ties by promoting the use of national currencies in bilateral trade, as highlighted by Foreign Secretary Vikram Misri. This initiative focuses on addressing trade imbalances and enhancing economic interactions between the two nations.

Misri emphasized increasing Indian exports to Russia as a key objective of the recent visit, aiming to balance trade relations. By managing trade imbalances and expanding trade settlements in national currencies, the two countries are working towards a robust framework for bilateral commerce.

The India-Russia partnership holds substantial regional and global significance, serving as an anchor in the complex geopolitical landscape. The visit also spotlighted economic and industrial collaboration, highlighting the need for enhanced cooperation amid global trade and investment challenges.

(With inputs from agencies.)