New Delhi: The government has allowed international trade settlements in Indian rupees for export promotion schemes under the foreign trade policy.
Amendments in the foreign trade policy and handbook of procedures have been made to allow for international trade settlement in Indian rupees i.e. for invoicing, payment and settlement of exports and imports in Indian rupees.
The allowance has been made to allow grant of exports benefits and incentives and fulfilment of export obligation under the foreign trade policy.
IANS