International trade settlements in Indian rupee allowed


 

New Delhi, Nov 9 (IANS): The government has allowed international trade settlements in Indian rupees for export promotion schemes under the foreign trade policy.

Amendments in the foreign trade policy and handbook of procedures have been made to allow for international trade settlement in Indian rupees i.e. for invoicing, payment and settlement of exports and imports in Indian rupees.

The allowance has been made to allow grant of exports benefits and incentives and fulfilment of export obligation under the foreign trade policy.

  

Top Stories

Comment on this article

  • Edward Shet, India

    Thu, Nov 10 2022

    In few days 1USD=1INR, this was announced by our great politician in Karnataka few years ago and happening. So there is no foreign exchange depletion !

    DisAgree [1] Agree [1] Reply Report Abuse

  • Karuna, Bengaluru

    Thu, Nov 10 2022

    There are many Congress party trained economists who think that their economic policy is much better than the one adopted by the current government. They are yet to understand position of Indian GDP and wealth is among top of the world

    DisAgree [1] Agree [3] Reply Report Abuse

  • mohan prabhu, mangalore/canada

    Thu, Nov 10 2022

    If this becines a regular feature, how will India earn foreign exchange and settle its other obligations in Western currency? Soon the foreign exchange reserves will be depleted and the Indian rupee may slide even further.

    DisAgree [4] Agree [9] Reply Report Abuse

  • Vinod Kumar, Mangalore

    Wed, Nov 09 2022

    What are you exporting Modi, Beef???….. You are importing free oil from Russia. We have lost billions on gold reserves due to surplus import and rupee fall.

    DisAgree [6] Agree [11] Reply Report Abuse


Leave a Comment

Title: International trade settlements in Indian rupee allowed



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.