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I. The impact of the local currency settlement mechanism on international trade

The restart and expansion of negotiations on the local currency settlement mechanism are aimed at solving payment problems after the surge in bilateral trade between India and Russia. Traditionally, international trade settlements rely on major international currencies such as the US dollar. However, the settlement method using the US dollar as an intermediate currency may bring exchange rate fluctuation risks, increased transaction costs and complexity of the settlement process in some cases. The central banks of India and Russia set a trade reference rate between local currencies instead of relying on the US dollar, which will help reduce exchange rate risks in bilateral trade, improve settlement efficiency, and promote more stable and convenient trade. This change in the mechanism may stimulate further growth in trade between the two countries, thereby increasing the flow of goods.

2. Potential boost to air cargo demand

With the optimization of the local currency settlement mechanism between India and Russia, bilateral trade is expected to be further promoted. More goods will circulate between the two countries, which will directly lead to an increase in demand for transportation services, including air transport cargo. In terms of the types of goods, more high value-added and time-sensitive goods may choose air transportation. For example, electronic equipment, precision instruments, fresh agricultural products, etc. Because air transportation can quickly deliver these goods to the destination, meet the timely needs of the market, and thus maintain the value and competitiveness of the goods.

3. Considerations on air freight costs and efficiency

Although air transport has the advantage of high speed, the cost is relatively high. Against the backdrop of growing trade between India and Russia, air transport companies need to optimize operating costs and improve transport efficiency while meeting transport demand. On the one hand, unit transport costs can be reduced by rationally planning routes and increasing flight load factors. On the other hand, advanced logistics technology and management methods can be used to shorten cargo handling time and improve the efficiency of the entire transport process. This can not only meet the transport demand brought about by trade growth, but also maintain their own competitiveness and profitability.

IV. Impact of policies and regulations on air cargo transport

The adjustment of the local currency settlement mechanism between India and Russia is a positive move at the policy level of the two countries. However, air transport and cargo transportation are still subject to extensive constraints of policies and regulations of various countries. For example, safety standards for air transportation, regulatory policies for the import and export of goods, environmental protection requirements, etc. Changes in these policies and regulations may have a direct impact on the operations of air transport companies. With the strengthening of India-Russia trade relations, the two sides may further coordinate relevant policies to create a more favorable environment for air transport and cargo transportation. But at the same time, it is also necessary to pay attention to changes in policies of other countries in the world, as well as possible trade protectionist tendencies, and prepare response strategies in advance.

5. The role of technological innovation in air cargo transport

In order to better meet the transportation needs brought about by the growth of India-Russia trade, the air transport industry needs to continuously promote technological innovation. In terms of aircraft manufacturing, more energy-efficient and larger cargo-carrying models should be developed to reduce operating costs and improve transportation capacity. At the same time, the Internet of Things, big data, artificial intelligence and other technologies should be used to achieve real-time tracking of goods, optimize transportation route planning, and predict market demand. These technological innovations can not only improve the service quality of air transport cargo, but also enhance the flexibility and adaptability of the industry to cope with various changes.

VI. Changes in the Pattern of Market Competition and Cooperation

With the development of India-Russia trade, the competitive landscape of the air transport cargo market may change. Existing air transport companies will face more market opportunities and competitive pressure. New players may enter the market, intensifying competition. In this case, cooperation between companies has become particularly important. Through cooperation methods such as alliances and code sharing, air transport companies can integrate resources, optimize route networks, and jointly respond to market challenges and changes. At the same time, the connection and cooperation with other modes of transportation (such as railways and sea transportation) will also help build a more efficient integrated transportation system to meet the needs of different customers.

VII. Driving force on air transport and cargo-related industries

The growth of India-Russia trade and the adjustment of the local currency settlement mechanism will not only directly affect the air transport cargo industry, but also drive the development of related industries. For example, the construction of aviation logistics parks, the increase in demand for cargo packaging and warehousing services, and the business expansion of the freight forwarding industry. The coordinated development of these related industries will form a more complete industrial chain and provide stronger support for air transport cargo.

8. Conclusion

In summary, although the resumption of negotiations between the Indian and Russian central banks on expanding the local currency settlement mechanism has a direct impact mainly in the financial sector, it will indirectly bring benefits to air transport and cargo transportation through its role in promoting trade.