During his Moscow visit, India's PM Modi addresses the trade imbalance and seeks an alternative currency for India-Russia economic relations.

India's PM Narendra Modi, during his Moscow visit, aims to address the trade imbalance between India and Russia, and find an alternative currency for their growing bilateral economic relations. This issue was also present in their 1953 Indo-Soviet Trade Agreement, where India imported more than it exported and rupee was non-convertible. The Soviet rupee balances took 16 years to be fully liquidated by Russia after the agreement's dissolution in 1992.

July 06, 2024
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