Russian President Vladimir Putin has stated that Russia is open to establishing manufacturing facilities in India since investments in the country are profitable. He additionally mentioned that the Russian oil Rosneft recently invested $20 billion in the country, as per a statement released by the Commerce & Industry Ministry. Vladimir Putin's remarks, delivered at the VTB Russia Calling Investment Forum in Moscow, are remarkable since raised Russian investments in Indian manufacturing could play a crucial role in the sustainability of the rupee-rouble payment system advocated by both nations.

Russia has become the largest supplier of oil to India, with significant discounts, making Moscow India's fourth largest trade partner. Bilateral trade reached $65.42 billion in 2023-24. India permits Russia to invest in government securities and bonds. Russia has a significant trade surplus, recorded at $56.9 billion in FY24, and New Delhi considers that a portion of it could be effectively used for investments in domestic manufacturing.

During the meeting, the Russian President also mentioned that the investment platform Russia is creating alongside the BRICS Plus group could be advantageous for all partner nations and offer financial support to the Global South and East.

India and Russia established a rupee payment mechanism to bypass the banking and economic penalties imposed by Western nations on Moscow after it invaded Ukraine in February 2022. Russian banks, including Gazprom and Rosbank, established their rupee vostro accounts with authorized dealer banks in India, like UCO, HDFC, and ICICI, to facilitate rupee trade between the nations.