“Many billions of rupees have been accumulated that have not yet found their application. Our Indian partners assured that they will offer promising areas for investment,” Lavrov emphasized. He added that the relevant departments in Russia and India are already working on this issue.
About one billion rupees accumulate monthly in the bank accounts of Russian companies in India, which cannot be spent due to currency restrictions. The Moscow Stock Exchange cannot start trading in rupees either, since the currency is not freely convertible. Regulatory approval is required to trade outside of India. The director of the money market department of the Stock Exchange, Sergei Titov, stated that Moscow is holding a dialogue with its Indian colleagues, but a final decision has not yet been made.
