The central government has made changes to the Foreign Trade Policy to allow for rupee settlement of international trade for export promotion schemes, the commerce ministry said on November 9.
"Given the rise in interest in internationalisation of Indian Rupee, the given Policy amendments have been undertaken to facilitate and to bring ease in international trade transactions in Indian Rupees," the ministry said in a statement.
The ministry said the changes have been notified for imports for exports, export performance for recognition as Status Holders, realisation of export proceeds under advance authorisation and Duty-Free Import Authorisation schemes, and realisation of export proceeds under export promotion capital goods scheme.
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