NEW DELHI, March 29. /TASS/. Developing a viable payment system, including Russia’s Mir card system, and relevant logistics are of particular importance in fostering economic ties between India and Russia, Sergey Cheremin, the Moscow city government official in charge of foreign trade ties, told reporters on the sidelines of the Russian-Indian Business Forum.

"The development of logistics chains is critical. [The lack of such chains] is currently among the most significant obstacles blocking the development of foreign trade ties. Upgrading the payment system is critical; we have been saying this for many years already. It is also vitally important that we persuade our partners of the need to promote Russia’s Mir payment system in India, without being afraid of secondary sanctions, and to reciprocally promote the Indian RuPay payment system," Cheremin said.

This will enable resolving the problem of ruble-denominated payments to a certain degree because relevant funds [in rubles] will be accumulated on accounts at Indian banks, he added.