RBI, Govt In Discussions With South Asian Countries For Cross-Border Trade In Rupee: Shaktikanta Das
1 year, 11 months ago

RBI, Govt In Discussions With South Asian Countries For Cross-Border Trade In Rupee: Shaktikanta Das

News 18  

RBI Governor Shaktikanta Das on Friday said the government and the RBI are in discussions with South Asian countries to have a cross-border trade in the rupee. South Asian nations need to undertake deep reforms to raise productivity, Das said while addressing the IMF Conference on South Asia’s path to resilient growth. Taming inflation, containing external vulnerabilities, raising productivity, strengthening cooperation for energy security, green energy cooperation, and promoting tourism are key policy priorities for South Asian nations. The governor outlined six policy priorities before the South Asian region to deal with critical challenges arising due to Covid, inflation, financial market tightening and the Russia-Ukraine war.

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History of this topic

World Bank Calls for Tariff Reduction and Ease of FDI in India to Unlock Growth Potential
2 months, 1 week ago

World Bank Calls for Tariff Reduction and Ease of FDI in India to Unlock Growth Potential

Live Mint  

World Bank economist Franziska Ohnsorge urges India to reduce tariffs and ease foreign direct investment restrictions to unlock its full potential. She highlights India's small market share but emphasizes that it can still capitalize on opportunities due to its proximity to global supply chains. The World Bank expects South Asia to remain the fastest growing among emerging market and developing …

South Asia is expected to grow by nearly 6% this year, making it the world’s fastest-growing region
1 year, 2 months ago

South Asia is expected to grow by nearly 6% this year, making it the world’s fastest-growing region

Associated Press  

NEW DELHI — South Asia is expected to grow by 5.8% this year, making it the fastest-growing region in the world even as the pace remains below pre-pandemic levels, the World Bank said on Tuesday. The latest South Asia Development Update from the World Bank projected growth in the region to slow slightly to 5.6% in 2024 and 2025, as …

Trading more within Asia makes economic sense
1 year, 10 months ago

Trading more within Asia makes economic sense

The Hindu  

South Asia should now have a re-look at regional trade across Asia after the warning by the International Monetary Fund on January 31, 2023, that global trade would slow down from 5.4% in 2022 to 2.4% in 2023. A recently published paper in an IMF book, “South Asia’s Path to Resilient Growth”, argues that a strong base exists for South …

Government, RBI in discussion with South Asian countries for cross-border rupee trade: Shaktikanta Das
1 year, 11 months ago

Government, RBI in discussion with South Asian countries for cross-border rupee trade: Shaktikanta Das

The Hindu  

RBI Governor Shaktikanta Das on January 6, 2023 said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. We are already in discussion with some of the countries in this region and to facilitate rupee settlement of cross border trade in the South Asian region," Mr. Das said. Mr. Das …

RBI's Decision On Cross-Border Trade in Rupee: What Is The New System, How Will It Help?
2 years, 5 months ago

RBI's Decision On Cross-Border Trade in Rupee: What Is The New System, How Will It Help?

News 18  

The Reserve Bank of India‘s latest decision to allow rupee transactions in international trade will help in subsiding price pressures and strengthen India’s presence in the global market. It added that for settlement of trade transactions with any country, authorised dealer banks in India may open Special Rupee Vostro Accounts of correspondent bank/s of the partner trading country. According to …

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