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.
Course Content
- 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