With many countries like Russia, Saudi Arabia, Iran, business can start soon in rupees. Under this, a notification was issued last week by the Directorate General of Foreign Trade (DGFT) regarding import-export in rupee. With this all the obstacles coming in the way of foreign trade in rupee have been removed. After this there is a similar possibility with Saudi Arabia. According to foreign trade experts, starting of business in rupee with countries like Russia and Saudi Arabia will bring relief in the country's import bill.

Source: The Hindu September 23, 2022 14:14 UTC