BILATERAL TRADE IN NATIONAL CURRENCY WHERE THE BALANCE OF TRADE IS IN FAVOUR OF BOTH WITH MINIMAL GAP IS EXTREMELY BENEFICIAL TO BOTH NATIONS

BILATERAL TRADE IN NATIONAL CURRENCY WHERE THE BALANCE OF TRADE IS IN FAVOUR OF BOTH WITH MINIMAL GAP IS EXTREMELY BENEFICIAL TO BOTH NATIONS


Dear Readers,
Where, in between two Nations the Balance of Trade is in favour of both with minimal gap, trading in National Currencies is extremely beneficial to both Nations. 

Because, when a 3rd Currency as the Foreign Currency to both, may be even if it is the commonly preferred currency for international trade, it can cut across any one side or both sides under various circumstances of both the nations involved in the trade, which can make a great disadvantage of cost to anyone or either side of the both. While Trading in National Currencies of both, there can be cost advantages in various ways, to accommodate each other and have a thriving bilateral trade distinctly advantageous when compared to other 3rd Party Nations.

India and Russia have been partners in Bilateral Trading in National Currencies, for a very long time. 
I do have some experience of past, doing exports to Russia from India and Realizing the Export Proceeds in Indian Rupees without any problem, I am saying even this experience of 1990s. Really it works very well. The Indian Exporter gets a Rupee Later of Credit from Russia to encash against export documents quickly. In case of Credit Sales, the Export Credits are realized from an Indian Bank on due date against the Rupee-Export Invoice Raised on the Russian Importers, the process used to work really very well and with very high level of security of transactions. 

As a Prominent Professional of India, having first hand experience even around 1990s in the past, I am fully in agreement with the views of our Hon'ble External Affairs Minister of India, Dr. S. Jaishanker as reported in the following News Report of The Hindu, I am giving the link below if anyone of you would like to read it:

EAM Jaishankar emphasises trade in national currencies ahead of intergovernmental meeting with Russia


This is definitely in the National Interest and is welcome to be pursued with utmost sincerity to achieve its success. 

Dr. Nimain Charan Biswal,
Mumbai, India 


About the Author: Dr. Nimain Charan Biswal is a B.Sc.(Agri. Science and Technology), M.B.A. and Ph.D.(Management Area ) by qualifications; and he has 38+ years of work experience in both industrial and development sectors in diversified fields of social importance. He has been educated at Orissa University of Agriculture and Technology (OUAT)-Bhubaneswar, Institute of Rural Management Anand (IRMA) and Gujarat University (with Resource Support of IIM-Ahmedabad). He is further educated at IIM-Calcutta, XLRI-Jamshedpur, Apple Computer Industries and Spar Inc., USA. He has worked for reputed National and International Organizations in Senior/Top Management Capacities at Board level as well as Managing Director and CEO. He is a management expert covering extensive areas from management in industrial sectors, management in agriculture and dairy, development management to management of public systems. He is a prominent professional of India and known Internationally as well. He is also a Political Strategist. He lives at Mumbai in India.


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