India is considering establishing a payment mechanism in local currencies to allow it to continue trade with Russia, which has been hit with Western sanctions in response to its invasion of Ukraine. New Delhi is proceeding with purchases of Russian crude at discounted prices despite pressure from the United States. The state-run Indian Oil Corp. […]
India is working out a mechanism to facilitate trade with Russia using local currencies, with a decision expected as early as next week, according to people familiar with the matter. The government is discussing how trade can be settled in rubles and rupees as Indian exporters are awaiting payments of about $500 million… To read […]
The Russian invasion of Ukraine and subsequent sanctions slapped by the West on Moscow have played out in different ways for Indian trade.
Signaling a morose end to Pax Americana, Russian President Vladimir Putin early Thursday announced a military operation in Ukraine; with the Ukrainian foreign minister terming it a “full-scale invasion”.
New Delhi’s digital diplomacy is making inroads. When India rolled out its online payments infrastructure to power real-time money transfers six years ago, it unwittingly laid the foundation for a technology-driven Belt and Road initiative. It gives Prime Minister Narendra Modi a more cost-efficient answer to China’s multi-trillion-dollar splurge on ports and pipelines in the […]
In 2020, India formally joined the race in quantum computing by establishing the National Mission for Quantum Technology and Applications. The same year, the sector received a massive boost from the government when a budget of US$1.2 billion was approved to be used over five years. Considering how serious India is to match its pace with […]
India is planning to launch a digital version of the rupee, becoming the latest country to join the rush to create state-backed virtual currencies.The country’scentral bank expects to introduce the currency”using blockchain and other technologies” some time in the new fiscal year, which begins in April.. To read more: https://edition.cnn.com/2022/02/01/investing/india-budget-digital-rupee/index.html SOURCE: CNN
There probably isn’t a country in the world that isn’t looking to build or expand billion-dollar tech corporations. The United States and China dominate the landscape of ‘unicorns’, privately owned technology start-ups valued at US$1 billion or more. But now some of the most rapid development is happening in India. To read more: https://www.nature.com/articles/d41586-022-00154-y SOURCE: […]
The Indian economy has “some bright spots and a number of very dark stains” and the government should target its spending “carefully” so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery […]
British trade minister Anne-Marie Trevelyan will visit India this week to hold talks to try to deepen trade and economic ties as part of London’s push in the Indo-Pacific region, her department said on Sunday. As part of a two-day visit to New Delhi, Trevelyan will hold bilateral talks with Indian Minister of Commerce and […]