India and Russia to Boost Trade with Their Own Currencies

India and Russia plan to boost trade using their own currencies, rupees and rubles, aiming to reduce reliance on dollars.

India buys $61.4 billion in oil from Russia but only sells $4.3 billion in goods, highlighting a major trade imbalance.

Officials Barthwal and Reshetnikov are exploring ways to ease trade barriers and encourage businesses to trade directly.

The new plan could lower costs and open up opportunities for both countries to trade a wider range of products.

Challenges include adapting to new trade methods and potential pushback from other nations, but changes could benefit both markets.

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