The only way to progress and possibly even survival for Eastern Orthodox Slavs is the way to the East. Only racists among us refuse to see it. They might as well move towards the “liberal” West
Progress in the collective west is heading in the wrong direction. Instead of some fundamental inventions, the collective west is progressing towards creating countless genders. It is time to look elsewhere. The economy will be the focus of this post, but turning towards the East (Asia) is much more than just material benefits. I’ll talk about that at some point in the future.
Trade between Moscow and New Delhi has grown significantly, and the parties plan to increase volumes. Meanwhile, Russian exports to India greatly exceed imports from this country. In addition, the Indian currency has sown significantly over the past few years against the dollar and ruble. It is not a surprise that we are observing tremendous pressure on India by the collective west. Whenever they apply this sort of pressure, I know whoever their target is must be doing something right.
In mid-November 2022, India announced plans to double the trade volume with Russia, noting that the transition to settlements in national currencies will only be an additional incentive for this. In late autumn, Indian authorities authorised rupees in international trade settlements.
Special accounts are already opening in Russian banks. Financial organisations from the Russian Federation have been allowed to open accounts with Indian banks in rupees. This is important for Moscow, given that Russian assets in dollars and euros worldwide have been arrested, and any currency « of unfriendly countries » in Russian accounts can be blocked. However, there are risks: over the past few years, the rupee has lost over 25% against the Russian ruble and 10% — against the dollar. I don’t think, however, it will be a long-term problem or one impossible to deal with.
The Russian Federation rose from 25th to seventh place in the list of the largest trading partners of India in 2022.
$ 30 billion is not a too high a goal
Russia asked India to help supply several hundred goods that the country could not buy because of the sanctions imposed against it. The Indian Foreign Minister said New Delhi is ready to begin supplying spare parts needed for Russian trains, cars and aircraft.
At a recent meeting with Indian counterpart Subramanyam Jayshankar, Russian Foreign Minister Sergei Lavrov said that countries plan to soon bring trade to $ 30 billion. Trade between Russia and China has exceeded $ 100 billion. That shows the potential to improve trade between India and Russia.
The parties also discussed cooperation in nuclear energy and the space sector and the possibilities of military-technical cooperation. Kalashnikov said that India’s AK-203 machine gun factory has already begun producing products.
The fifth economy of the world
India opposes Western pressure and does not join anti-Russian sanctions. In Moscow, it is essential to establish transactions with states that did not support the introduction of restrictive measures against it. For the Russian Federation, this is a step in overcoming the sanctions pressure on the economy.
In September 2022, India went around the UK in terms of GDP and became the fifth economy in the world. Currently, the country provides 3.5% of the global GDP and contributes to global economic growth close to USA and China. New Delhi overtakes Washington and Beijing in terms of economic recovery.
Russian turn to the East
The volumes of the products India supplies to the Russian Federation will increase. These are chemical products (46% in the import structure), machinery and vehicles ( 30% ), food and raw materials APK ( 16% ), metals ( 8% ), textiles and shoes ( 7% ), and precious metals and stones ( 2% ). Sooner or later, India will be able to balance trade. It will be gaining more and more Russian raw materials at discounted prices.
New Delhi said it was ready to supply spare parts to Russia for aviation, automotive, and railway equipment. Thus, Moscow can buy not only Indian but also foreign products for rupees. This relatively reduces Russia’s surplus in trade with India and allows for the further use of rupees.
Serbia is a much smaller market and has little trade with India. However, China recently became the biggest investor in the Serbian economy, surpassing the EU. Collective west is very unhappy about that. It is interesting to notice how NGOs concerned with the environment have suddenly become very active. The reason for that is far from any concerns about the environment. The real reason is that China invested in the Serbian mining industry. Steelworks in Smederevo and copper mining and processing in Bor and Majdanpek received upgrades to improve their environmental impact, but Serbian “greens” are still protesting. They were pretty happy and quiet when the US company owned steelworks. Could you see the similarities between Serbian and German “greens”? They both seem to be owned by someone in Washington.
My today’s travel suggestion is a country very special to me. It is Cambodia – the country I called home for five years. Cambodia is much more than just Angkor Wat temples.
Booking.com