The Reserve Bank of India has allowed banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) for settling payments in Indian rupees. This decision is expected to boost India's exports and help avoid wartime international sanctions.
The US and EU are impacting exports of key sectors including engineering, gems, and jewelry, and may have implications on India's exports in case the global situation does not improve in the coming months.
Investors also played their bets cautiously in view of India's rating outlook cut by Moody's Investors Services last week. Opening marginally lower, the Indian currency dropped to a low of 71.54 to the US dollar before settling at 71.47, showing a fall of 19 paise
At a time when the world is witnessing trade wars across nations, India too will be impacted.
Union Minister Piyush Goyal has called for de-escalating trade tensions and reviving confidence in the rules-based multilateral trading system.
Washington: In the aftermath of the economic crisis, there has been slow growth in global trade, the World Bank has said.In the year 2012 and 2013, the global trade expanded by less than 3.5 per
New Delhi : Global trade is expected to increase by 4.7 percent in 2014, better than the average of 2.2 percent in the past two years, on the back of projected improvements in the developed
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