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Tag: Indian Rupees

Politics

‘Trade in Indian rupee will be the biggest way forward’: Amit Shah says India in final stages of rupee trade pacts with many countries – Times of India

India is close to finalizing agreements with several nations to facilitate trade settlements in Indian rupees, according to Union home minister Amit Shah. In an interview with ET, Shah said this is a top priority for the new government, although discussions have been temporarily paused due to the ongoing elections.Shah explained, "Moving ahead, trade in Indian rupee will be the biggest way forward.Let me explain. We may have deficit but let's say a country like Germany may have something which can be traded bilaterally in Euro and Rupees. The trade deficit may well be in international currency but a large amount of bilateral trade can shift to our own respective national currencies."Asked about US President Joe Biden's comment about countries like India, China, Russia, and Japan losing ...