India is ready to invest in Russia’s coal and hydrocarbon projects, Indian Ambassador Extraordinary and Plenipotentiary in Russia Pundi Raghavan said at a roundtable discussion of the St. Petersburg International Economic Forum on Thursday.
At a regular summit in autumn this year, India will make specific proposals on bilateral cooperation in these sectors, the ambassador said.
At the same time, Russia’s Uralvagonzavod Engineering Group CEO Oleg Siyenko who spoke at the roundtable discussion urged the BRICS group of the world’s major emerging economies (Brazil, Russia, India, China and South Africa) to switch to settlements in national currencies.
“I’m requesting you, Indian partners, to start this work because we as the BRICS member states have introduced the national currency in our settlements after all. I don’t know how it will be called – BRICS or will have some other name – but believe me this will help us gain independence and make a big sports leap rather than just a step in our relations,” the Uralvagonzavod head said.