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India’s trade deficit rises 88 pc in FY22: Govt data

India’s trade deficit rose 87.5 per cent to USD 192.41 billion in 2021-22 as against USD 102.63 billion in the previous year, the government data showed on Monday. While total exports during last fiscal year increased to a record high of USD 417.81 billion, imports too soared to USD 610.22 billion, leaving a trade gap […]

India and Russia may keep ruble out of the proposed rupee-ruble trade

India and Russia may keep the ruble out of the proposed rupee-ruble trade, given the high volatility in the Russian currency after Western nations imposed sanctions on the country. Payments are likely to be settled in the rupee pegged to the dollar, and deposited in an Indian bank account. “The rupee-ruble trade may not be […]

Amid Western Sanctions, India Explores Rupee-Ruble Mechanism for Trade with Russia

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 Considering Rupee Payments For Trade With Russia: Report

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 […]

What Does Indian Trade Stand to Lose and Gain from Russia-Ukraine Conflict?

The Russian invasion of Ukraine and subsequent sanctions slapped by the West on Moscow have played out in different ways for Indian trade.

Russia-Ukraine Crisis: What it means for India and investors

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”.

India Insight: Digital diplomacy builds bridges

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 […]

Quantum technologies could potentially add US$310b to the Indian economy by 2030

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 wants to launch a digital rupee and tax crypto profits

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

India’s tech innovation engines must raise their game

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: […]


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