India expects bilateral trade worth $8-9 billion with Russia and Sri Lanka in the next two months after it allowed international trade in rupees, India's trade secretary said.
The Reserve Bank of India last month allowed importers and exporters to pay in the partially convertible rupee, a move widely seen as making trade with Russia and South Asian neighbours easier instead of relying on dollars.
"The rupee-denominated sales will be a big, big advantage," B.V.R. Subrahmanyam told reporters late on Tuesday. "I see in the next two months $8-$9 billion of trade with Russia and Sri Lanka."
India's imports from Russia, mainly crude oil, jumped nearly five times to more than $15 billion between the end of July and Feb. 24 when Russia invaded Ukraine, compared to the previous year, according to a source with direct knowledge of the matter.
But exports fell to $852.22 million from $1.34 billion in the same period, due to the lack of a payment settlement mechanism with sanctioned-hit Russia
My memory takes me back to 1979, to a moment etched in time when a strikingly tall and impeccably dressed military officer, a Master in charge of Cadeting at Prince of Wales College commanding a guard of honour presented to President J.R. Jayawardene by the cadets of 3CCC, consisted of Ananda, Nalanda and Prince of Wales Cadet platoons at the Prince of Wales College grounds.
An American national, who had been staying in Sri Lanka for nearly ten months without a valid visa while using a Sinhala name under his American passport, was arrested by the Tourist Police of the Kandy.
Former Member of Parliament J.R.P. Suriyapperuma passed away today, January 2, 2025, at the age of 96.
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