India & UAE To Initiate Rupee-Dirham
According to Sudhir, India has released the concept paper for local currency trading. Both nations see the value in it. India and the United Arab Emirates have exchanged concept papers. The central banks of the two nations are in talks. the goal, according to Sudhir in New Delhi.
He also stated that the central banks of both nations will discuss standard operating arrangements and policies. In February, the United Arab Emirates and India signed a Free Trade Agreement (FTA) to strengthen their bilateral trade and economic ties. As a result of the FTA, bilateral trade is expected to grow from the current $60 billion to $100 billion over the next five years
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