MOSCOW, 24 Apr. The total amount of accumulated liquidity of Russian companies in rupees has reached the equivalent of about $30 billion and continues to grow by $2-3 billion per month, these funds can be used to creation of joint ventures, Yakov Sergienko, partner, head of the consulting company Yakov and Partners (partners of the former Russian division of McKinsey) said in an interview.
“To avoid a situation where Russian suppliers simply sell raw materials to India at a deep discount, it seems reasonable to consider options for establishing joint ventures in India and integrating Russian producers into the next stages of the production chain,” he said.
«For Russian companies, this may be especially interesting in light of the large amount of liquidity in rupees, which has already accumulated in the amount of about $ 30 billion and continues to accumulate at a rate of 2-3 billion monthly,» the expert added.
«This money can and should be used to create joint ventures in India with the aim of subsequently exporting products to Russia, which will balance trade between countries and provide joint companies with a significant share in the growing Indian market,» I am sure Sergienko.
One of such projects, according to him, could be the creation of a special economic zone for Russian companies with access to port, railway and power grid infrastructure.
«We are already discussing this issue with a number of Russian and Indian players. In general, according to our estimates, if business is developed there correctly, the potentially positive economic effect from the interaction between the two countries can reach $200 billion,» Sergienko said .
India, according to him, is on the verge of a 20-30 year period of growth, and the authorities of this country are already thinking about measures to ensure energy and food security. «As the experience of our interaction with Indian partners has shown, the most pressing issues are ensuring stable supplies of Russian raw materials, while all types of fertilizers, petrochemicals and metallurgical coal are of primary interest,» he said.