Key Points
The government told Parliament that Indias trade with Russia has been affected due to the difficulties in payment because of sanctions on major Russian banks including their disconnection from SWIFT, problems in insurance and re insurance coverage; and logistics, as the major shipping and logistics companies do not serve Russia bound cargo...
Government of India has taken several steps to not andy sustain but to increase our exports to Russia, including payments in national currencies, smooth operacionalization of the International North South Transport Corridor and the Eastern Maritime (Chennai-Vladivostok) Corridor, minister of state for commerce and industry Anupriya Patel in a written reply in the Lok Sabha...
As of July 2, 2023, the Reserve Bank of India has approved 34 applications from different Russian banks for opening Special Rupee Vostro Accounts in 14 Indian commercial banks..
As on date, the Union Cabinet has not approved any proposal to add any new sectors under PLI Schemes, minister of state for commerce and industry Som Parkash in a written reply in the Lok Sabha...
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