India-UAE trade in rupees, dirhams enters double digits: Piyush Goyal

Trade between India and the UAE has reached double digits in local currencies, with settlements in rupees and dirhams becoming a significant part of their bilateral trade. This shift is attributed to businesses recognising the benefits of rupee-dirham settlements amid ongoing geopolitical disruptions. The development is a positive sign for the Indian economy, as it could help reduce reliance on the US dollar and promote local currency transactions. This move is also expected to contribute to the recovery of India-UAE trade in the coming months.

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Trade between India and the UAE in local currencies has reached double digits, indicating a significant increase in bilateral trade. This could lead to increased economic cooperation and investment between the two countries.

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