Neutral impactEconomy
Putin, Modi to discuss trade, defence deals, local currency payments on Friday: Kremlin
BusinessLine 1 hr ago·8 Sept 2026, 3:34 pm
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi are set to meet this Friday to discuss strengthening bilateral ties. A key focus of their talks will be trade and defence cooperation, with a specific emphasis on facilitating payments in local currencies to reduce reliance on the US dollar.
For investors, this meeting signals a potential deepening of economic ties between the two nations. By moving towards local currency settlements, India aims to address its trade deficit with Russia, while Moscow signals a continued commitment to international trade despite geopolitical pressures. This development highlights the resilience of the bilateral relationship and its importance for global trade flows.
Investors should watch for any announcements regarding specific defence contracts or new trade agreements. The success of local currency payments will also be a critical indicator of how effectively the two economies can bypass traditional financial systems.
Excerpt from BusinessLine
Russian President Vladimir Putin will hold a bilateral meeting with Prime Minister Narendra Modi on Friday, ahead of the BRICS Summit, as the country looks to deepen trade and financial cooperation with India with greater use of national currencies emerging as a key priority, according to Moscow. Defence deals,…Read the original at BusinessLine
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- Category: Economy.
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