Russia–India payment infrastructure fully ready for settlements in national currencies: Sberbank India CEO
Sberbank India's CEO Ivan Nosov has announced that the infrastructure for national currency settlements is now operational. Several key challenges related to financial collaboration have been successfully addressed over the years. This enables swift transactions between Russia and India, opening opportunities for Indian goods, which hold substantial export potential in the Russian market due to…
India's infrastructure sector is facing an estimated annual cost of ₹1.42 lakh crore due to corrosion, according to an industry report. This corrosion-related expense, highlighted at the CII Annual Infrastructure Summit 2026, constitutes around 2.9% of the sector's GDP. The report, titled the CII-NRI Report on the economic impact of corrosion, reveals that the maximum potential saving of ₹49,580 crore, or 1.02% of infrastructure-sector GDP, could be achieved through better prevention and protection measures.
The report recommends implementing corrosion-protection requirements based on environmental exposure, particularly for coastal, high-humidity, and other aggressive environments, similar to practices in the US and Japan. It also emphasizes that Indian regulations often acknowledge these measures but treat their adoption as optional.
The report urges infrastructure owners and policymakers to consider factors beyond the initial cost of materials or protection systems.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Corrosion costs India’s infrastructure ₹1.42 lakh crore a year: Report economictimes.indiatimes.com
