India is ready for Rupee trade with countries facing currency crisis : Commerce Secretary

NEW DELHI : Commerce

Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India’s exports to $2 trillion by 2030, the secretary also said the Government is focusing on strengthening the rupee payment system.

Changes have been made in the FTP to allow international trade settlement in Indian Rupee with a viewtomakingINRaglobalcurrency. Addressingthegathering,Commerce and Industry Minister Shri Piyush Goyal exuded confidence that the exporttargetof$2trillionby2030will bemet.

He stressed that any industry cannot succeed only on the basis of subsidy or crutches. In the coming days, the idea of exports will change in the Country, Goyal said. FTP 2023 has been announced to provide policy continuity and a responsive framework, said Director General of Foreign Trade (DGFT) Santosh Sarangi.