Indian Think-Tank Founder Praises Russia-India Ties, Says World Is Becoming Multipolar
Rubles/rupees
Denis BolotskyAlthough western sanctions have exiled the Russian central bank from SWIFT – the international bank transfer system – both India and Russia are determined to continue importing and exporting goods to each other. To that end, they are now discussing mutual acceptance of the national RuPay and Mir payment systems, according to reports.As Vladivostok hosts the Eastern Economic Forum (EEF), Rishabh Sethi, founder and president of global think-tank, the Indian Center for Promotion of International Initiatives, has told Sputnik that Russia and India are giving a great example of maintaining a trade relationship and by relying on rupees and rubles in contracts, Moscow and New Delhi are helping to end the dollar’s economic predominance.Sputnik: You’re here with the Indian Center for Promotion of International Initiatives. What are the key points?Sethi: The Indian Center for Promotion of International Initiatives is a think-tank started in 2018. We are at present working on a project we started during the St Petersburg International Economic Forum in 2018.At the Eastern Economic Forum (EEF), our delegation comprises 23 young activists representing more than 20 countries, most of them members of BRICS and allied countries. And, each one of those 23 has projects focusing on Sustainable Development Goals (SDGs).We will also have a session with the Russian government to showcase these projects.Sputnik: There was a lot of talk about the multipolar world. Are we already in a multipolar world or are we still heading that way?Sethi: We are entering the era of a multipolar world in the digital era. And every country has complete freedom to grow and develop their economy, create trade relations especially, and maintain special humanitarian cooperation ties and cultural cooperation.Now, regarding India and Russia, India has, in past six months [during Russia’s military operation in Ukraine], took a neutral stand. Moreover, it chose to maintain its relationship with Russia. And in the past months, we have seen the trade relationship between the two countries strengthen.In 2022, both nations celebrated 75 years of diplomatic relations. And this year we started to develop trading between our respective currencies – ruble and rupees – which will help to break the predominance of the dollar and the euro.Rupee-ruble trade will also set an example for all countries to promote their own currency.Sputnik: How important is it for young people to maintain direct digital diplomacy and any particular youth initiatives that can be held on the sidelines of gatherings such as the EEF or Vladivostok Forum? Is there any direct communication at the moment between Indian and Russian youths?Sethi: Yes, of course. Young people play a crucial role in maintaining strong relations between the countries because they are their countries’ future and future leaders. They are creative, innovative and full of ideas.Russia and India invited young people to share their projects during the Eastern Economic Forum and Saint Petersburg International Economic Forum. Also, three months ago, in June, we hosted our panel at the 25th Saint Petersburg Forum, and we got young people from more than 30 countries to showcase their innovative projects.
