Import Export with Russia

Trade settlement in Indian Rupee

Introduction

Russia has been traditionally a very important business partner for India both in respect of Import & Export. Even prior to break up of Russia there was in existence “Rupee- Rouble Trade” in existence between the two countries.

Under changed economic cooperation and political scenario enhancing trade and economic operation between India & Russia is a key priority for both the countries. Accordingly, Russia provides immense opportunity for Indian Exporters & Importers to expand their business. The recently announced measures by Reserve Bank of India of permitting Import – Export under Rupee Payment Mechanism is likely to boost further trade between the 2 countries.

Yes Bank and Russia’s Petersburg Social Commercial Bank (PSCB) have taken the lead in facilitating rupee rouble bilateral trade that seeks to bypass the US dollar, ensuring uninterrupted cross-border business with Moscow entities amid the Western sanctions on the country.

The Objective of this workshop is to acquaint the participants with vast opportunities available for Indian Exporters & Importers in the field of business with Russia.

• An overview of India – Russia Business
• What Russia Imports & Exports
• Impact of recently announced RBI measures permitting International Trade in Rupees on business with Russia
• Mechanism of  trade settlement in Indian Rupees
  • Process flow of settlement 
  • Regulatory guideline
  • Application of Exchange rate
• Vostro Account – process and arrangement 
• Recent Negotiations & Developments
• Institutionalize Mechanism between India & Russia for promotion of Bilateral Trade proposed FTA / CECA with Eurasian Economic Union
• Trade Regulations in Russia
• Miscellaneous