India relaxes rupee trade rules to expand export benefits for businesses

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India has eased its rupee trade settlement rules, expanding the scope of eligible payments for exporters. The policy change, highlighted by economic think tank Global Trade Research Initiative (GTRI), means rupee payments received for exports to countries beyond Nepal and Bhutan will now qualify for Foreign Trade Policy (FTP) benefits. These payments can also be counted toward fulfilling export obligations, offering exporters greater flexibility. The move is seen as providing an alternative mechanism for exporters navigating international trade settlements in Indian rupees.

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