India’s Union Commerce and Industry Minister Piyush Goyal has said that many developed and developing countries, including Bangladesh, want to trade with New Delhi in Indian currency rupees to reduce transaction costs. He gave this information in an interview given to the country’s state-run news agency Press Trust of India (PTI) on Monday.
The Indian minister said, “Bangladesh and Sri Lanka are already talking to us and they want us to start it immediately. Other countries in the Gulf region are also looking at it. I think it will take some time to see if people benefit. Later, some other developed and Far Eastern countries will join our trading system.
He said that various countries of the world are gradually realizing that there are several advantages of doing business in local currency.
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