In spite of the ongoing conflict in Ukraine and the US-led economic sanctions against Russia, India and Russia have not yet made any progress towards resolving outstanding rouble payments for Moscow’s sale of New Delhi’s defence equipment. In the lack of a solution as the current fiscal year comes to a conclusion, New Delhi has begun a local shopping binge for its defence requirements, according to The Indian Express newspaper.
This is due to the rouble payments totaling 28,000 crore ($3.39 billion) for weaponry India purchased from Russia making up a sizeable portion of the unspent defence budget, the article said. New Delhi is using this financial flexibility to fund domestic defence expenditures.
Due to the Russian rouble’s blockade, India conducts record-breaking local defence purchases
