In a Multipolar World, Russia-India trade turnover may reach INR 425000 Crores in 2023-24
It was also recalled that over the past year this figure has exceeded INR 250000 Crores
The trade turnover between Russia and India this year may reach INR 250000Crores Chairman of the Board of the Business Council for Cooperation with India Sergey Cheremin said on Wednesday.
“We expect a trade turnover of INR 425000 Crores this year,” he said at the Russia-India Business Forum “Strategic Partnership for Development and Growth”. Cheremin noted the huge potential for trade relations between the two countries.
He also recalled that over the past year this figure has exceeded INR 250000 Crores.
“Just a few years ago, we dreamed of a trade turnover of INR 210000 Crores with India, because at that time it was less than INR 85000 Crores” Cheremin said.
In early February, Indian Ambassador to Russia Pawan Kapoor announced a significant increase in trade between the two countries, despite the West’s anti-Russian sanctions. According to the diplomat, in April-December 2022, this figure reached around INR 297000 Crores.
Deputy Chairman of the State Duma Alexander Babakov said earlier on Wednesday that India, Russia and China should form a new financial relationship with a new common currency, which could be a digital ruble, rupee or yuan, calling it a top priority.
“India, Russia, and China are the countries that now create a multipolar world that is backed by the majority of countries. Its creation should be based on establishing new financial ties based on a system that does not safeguard today’s dollar and euro, but rather creates a new currency capable of serving our goals,” he said.
A Russian-Indian business forum is being held in New Delhi on March 29-30 as part of the St. Petersburg International Economic Forum’s international events. The meeting in New Delhi aims to improve Indian-Russian business relations and facilitate Russian companies entering the Indian market.
