Some of the Russian money is invested in Indian securities, but most of it remains in Vostro accounts due to a lack of investment opportunities in India for Russians and continued volatility in exchange rates
India s gross direct tax collection for the period from April 1 to October 9 increased by 17.95% to Rs 11.07 lakh crore, according to the Ministry of Finance. Net collections were 21.82% higher than the same period last year, reaching Rs 9.57 lakh crore. Refunds totaling Rs 1.50 lakh crore were issued during this period.
“Our Indian friends said they would propose promising areas they can be invested in,” Lavrov told reporters, citing talks with Indian counterpart Subrahmanyam Jaishankar in Jakarta, Indonesia, on the sidelines of the East Asia summit prior to his arrival to India. “Right now our governments are talking how to use and invest them to mutual benefit.”
Originally comprising Brazil, Russia, India, and China, BRICS was coined by Goldman Sachs in the 1990s to encourage investment in emerging economies. South Africa, the first non-original member, aptly led a summit centered on group expansion.
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