Roubles and ​rupees: Russia says no more hurdles in payments with India

Russia and India have built a functioning payments infrastructure using roubles and rupees. This system now accounts for ninety-six percent of their bilateral trade transactions. Bilateral trade reached seventy billion dollars in 2024, tripling since 2022. Russian businesses previously faced challenges with rupee overhang and trade imbalances. Both nations' banks are actively servicing this growing economic partnership.