India’s effort to boost rupee’s role in international trade underperforms

  • India’s campaign to promote the rupee in international trade hasn’t made substantial progress, with local currency trade volumes at around only $120 million.
  • The Reserve Bank of India is encouraging countries such as the UAE and Saudi Arabia to accept the Indian currency for trade settlements.
  • Despite current setbacks, the rupee’s potential is high with India expected to be the second biggest contributor to global growth till 2028.
Join 2 million subscribers

A curated newsletter that summarizes the important news at the intersection of Global tech, India Tech and AI.

Delivered 8 AM. Daily.
nextbigwhat We would like to show you notifications for the latest news and updates.
Allow Notifications