India Amends Foreign Trade Policy for Easier Rupee Invoicing and Payments for Exporters

India amends Foreign Trade Policy for easier rupee invoicing and payments for exporters

The government has amended its Foreign Trade Policy to ease rupee invoicing for exporters. Eligible rupee receipts now qualify for export benefits and obligations, aligning with new regulations. This change applies to exports to all countries, with specific rules for ACU members. Rupee settlements may reduce costs and risks for Indian exporters. The amendment aims to support wider international use of the Indian rupee.

India eases rupee invoicing and payment rules for exporters

The policy change removes uncertainty over eligible rupee receipts while offering exporters an alternative to conventional foreign-currency settlements in international trade

India eases rules for rupee export payments, seeks to widen trade settlement

India has eased export payment rules, allowing rupee settlements with non-Asian Clearing Union countries. This move aims to promote wider use of the local currency in international trade transactions. Eligible rupee export receipts will now qualify for trade-policy benefits and count towards exporter obligations. The changes align with recent Reserve Bank of India foreign-exchange rules permitting broader rupee usage.

Govt eases rules to enable export payments in rupees

New Delhi, Aug 20 (SocialNews.XYZ) The Directorate General of Foreign Trade (DGFT) on Thursday eased rules allowing export contracts, invoices, and payments with non-Asian Clearing Union (ACU) countries to be denominated and settled in rupee or foreign currencies, in a move aimed at allowing rupee exports to be eligible for benefits under the government’s trade policy and also promote the use of the local currency in global trade. The changes, w…