India permits exporters to use rupee for invoicing and payments
The Directorate General of Foreign Trade (DGFT) has relaxed regulations regarding export transactions conducted in rupees. Indian exporters are now permitted to invoice international sales and accept payments in either the local currency or foreign denominations. Any rupee-based payments processed via authorized banks will be eligible for benefits under the Foreign Trade Policy. This initiative is expected to lower risks and expenses associated with currency conversion, while also providing a viable option for nations experiencing a scarcity of dollars.
by shortkt.com✓