{"id":98463,"date":"2023-03-31T12:17:00","date_gmt":"2023-03-31T06:47:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=98463"},"modified":"2023-03-31T12:15:24","modified_gmt":"2023-03-31T06:45:24","slug":"biz-ftp-ruppe-trade","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ftp-ruppe-trade\/","title":{"rendered":"India ready for rupee trade with countries facing currency crises: Commerce Secretary"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3696143892\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3635228796\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India&#8217;s exports to USD 2 trillion by 2030, the secretary also said the government is focusing on strengthening the rupee payment system.<\/p><p>Changes have been made in the FTP to allow international trade settlement in Indian Rupee with a view to making INR a global currency.<\/p><p>Addressing the gathering, Commerce and Industry Minister Piyush Goyal exuded confidence that the export target of USD 2 trillion by 2030 will be met.<\/p><div class=\"trade-content_5\" id=\"trade-461766277\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>He stressed that any industry cannot succeed only on the basis of subsidy or crutches.<\/p><p>In the coming days, the idea of exports will change in the country, Goyal said.<\/p><p>FTP 2023 has been announced to provide policy continuity and a responsive framework, said Director General of Foreign Trade (DGFT) Santosh Sarangi.<\/p><p>The FTP has also introduced an amnesty scheme for one-time settlement of default in export obligation by Advance Authorisation and EPCG authorisation holders.<\/p><p>All pending cases of the default in meeting export obligation (EO) of authorisations mentioned can be regularised by the authorisation holder on payment of all customs duties that were exempted in proportion to unfulfilled EO and interest at the rate of 100 per cent of such duties exempted.<\/p><p>However, no interest is payable on the portion of Additional Customs Duty and Special Additional Customs Duty.<\/p><div class=\"trade-content-10\" id=\"trade-2519151859\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Policy for export of dual use items under Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) has been consolidated at one place for ease of understanding and compliance by industry.<\/p><p>SCOMET policy emphasises India\u2019s export control in line with its international commitments under various export control regimes (Wassenaar arrangement, Australia group and Missile Technology Control Regime) to control trade in sensitive\/dual use items\/technology. PTI RSN NKD CS NKD ANU ANU<\/p><div class=\"trade-after-content\" id=\"trade-2528692189\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India&#8217;s exports to USD 2 trillion by 2030, the secretary also said the government is [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":41010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-98463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India ready for rupee trade with countries facing currency crises: Commerce Secretary - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ftp-ruppe-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India ready for rupee trade with countries facing currency crises: Commerce Secretary\" \/>\n<meta property=\"og:description\" content=\"Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-ftp-ruppe-trade\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-31T06:47:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/Rupee-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/Rupee-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-ftp-ruppe-trade\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-ftp-ruppe-trade\/\",\"name\":\"India ready for rupee trade with countries facing currency crises: Commerce Secretary - 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