India is already using INR in trade with neighboring countries
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Image Credit: economic times
The Indian government has initiated trade in Indian Rupee (INR) with neighboring countries, including Sri Lanka, Nepal, Bangladesh, Bhutan, Iran, and Russia. The Parliament was informed about this by Minister of State for Commerce and Industry Anupriya Patel while answering a question. This move towards INR-based trade settlements with neighboring countries not only strengthens regional ties but also reduces reliance on the US Dollar.
