India-Russia trade hit a record $39.8 billion in 2022–23: SPIEF director - Economic Times

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India is emerging as a key supplier of medicines, car and machine parts, textiles and clothing, and food products to Russia, said Aleksey Valkov, director of the St. Petersburg International Economic Forum (SPIEF), who organised a mega Indo-Russia business meeting in Delhi.

India-Russia trade hit a record $39.8 billion in 2022–23, Valkov told ET.

The surge in bilateral trade came in the backdrop of India’s huge purchase of discounted Russian oil.

“Indian business has the opportunity to fill vacancy in other sectors of the Russian economy after withdrawal of Western firms,” Valkov said, pointing to five core areas of potential cooperation – transport infrastructure, agriculture and agro-processing, support for small and medium enterprises (SMEs), digital transformation and cutting-edge technologies, and manufacturing and trading.

Russia became one of India’s top five trading partners for the first time, Valkov said as he invited Indian firms to take part in SPIEF. “Visa is easy to obtain and SPIEF participants can not only engage in business but also get taste of Russian hospitality.”

He said India is already supplying Russia with medicines, car and machine parts, textiles and clothing, and food products. In the food sector, Russia is importing tea and coffee, rice, fruits, seafood and confectionery from India.

Russia’s exports to India include mineral oils and fuels, mineral resources, precious stones and metals, fertilisers, project goods, vegetable oils, rubber and rubber products, paper and cardboard, iron and steel, inorganic chemicals, plastic products and pharmaceuticals.Besides, 120 Vande Bharat Trains will be made in a joint venture between Russian firm JSC Metrovagonmash-Mytishchi and RVNL coach factory plant in Latur.

On the issue of a newly established rupee-rouble mechanism for trade settlements, the SPIEF director said transactions in national currencies promote sovereignty. “Our continued joint work to support mutual settlements in national currencies will help reduce costs and save time, as well as lower certain risks associated with payments,” he said.

On the upcoming 26th SPIEF in St. Petersburg on June 14-17 where Prime Minister Narendra Modi was the chief guest a few years ago, Valkov said, “Participants have the opportunity to negotiate with representatives of federal ministries as well as companies across numerous sectors.”

The two countries are also exploring digitisation of the INSTC corridor for smooth and faster trade via Iran. India and Russia are also expanding their maritime connectivity via the Vladivostok-Chennai corridor and Arctic region.

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India-Russia trade hit a record $39.8 billion in 2022–23: SPIEF director - Economic Times
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Dolphins Willing To Trade WR Cedrick Wilson - profootballrumors.com

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The Dolphins enjoyed considerable production from their top receiver duo of Tyreek Hill and Jaylen Waddle last season, but no other pass-catchers made nearly as large of a contribution as those two. Miami’s group of secondary receivers includes Cedrick Wilson, but that may not be the case for long.

The Dolphins are open to trading Wilson, reports Barry Jackson of the Miami Herald. Such a move would yield a notable financial benefit, regardless of when it took place. Dealing the 27-year-old before June 1 would result in $7MM in cap savings, while doing so after that date would save $6MM. Wilson is set to count $8MM against the cap in 2023, the second year of the contract he signed last offseason to head to South Beach.

That $22.8MM pact came after the former sixth-rounder comfortably set new career-highs across the board in his final campaign with the Cowboys. Wilson recorded 602 yards and six touchdowns on 45 receptions in 2021, proving himself to be a valuable contributor in Dallas’ high-volume passing attack. That elevated expectations for him upon arrival in Miami, even with the team’s blockbuster trade to acquire Hill.

However, Wilson had his least productive season since 2019, totaling only 12 catches and 136 scoreless yards. His playing time took a significant step back compared to the year before, seeing the field for only 26% of offensive snaps. That made the Boise State alum one of several complimentary wideouts to put up underwhelming numbers behind the massive production (3,066 combined yards) of Hill and Waddle. The Dolphins’ next-leading receiver was Trent Sherfield, who posted 417 yards.

Despite the cap savings a trade would yield, Jackson adds that the Dolphins are also open to retaining Wilson. Miami currently has less than $2MM in cap space, putting them 31st in the league in that regard. A release in this case would result in considerable dead money, so that avenue is not an expected outcome. A rebound on Wilson’s part in 2023 could make it worthwhile to hold on to him, though the Dolphins have replacement options such as recent signing Braxton Berrios in place as well.

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