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flag Developed and developing countries, including Bangladesh, Sri Lanka, and Gulf nations, aim to start rupee trade with India to reduce transaction costs, with Singapore already participating.

flag Many developed and developing countries, including Bangladesh, Sri Lanka, and nations of the Gulf region, are keen to start trade in rupee with India. flag This move would help cut transaction costs for businesses. flag Commerce and Industry Minister Piyush Goyal says that this development could be a "very game-changing" dimension to India's international trade, with Singapore already on board. flag As countries gradually realize the advantages of trading in their own domestic currencies, more nations, including those in the Far East, are expected to join the bandwagon.

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