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Many countries negotiating to start rupee trade with India: Sitharaman

By Business Standard - 9 months ago
Finance Minister Nirmala Sitharaman on Friday said many countries are negotiating to start trade in rupee as the country's fundamentals are strong and the Indian unit has been "mostly stable" against most of the international currencies. Addressing the Pandit Hriday Nath Kunzru Memorial Lectures 2024 at JNU, Sitharaman also said India has opened up every sector for private investments and will extend fiscal and policy support to sunrise sectors like artificial intelligence, semiconductors and manufacturing using innovative tools. "Indian Rupee being mostly stable against most of the international currencies except for the US dollar, where it had volatility. But even in that case, compared to many other currencies, the Indian rupee has been far more stable even against the US dollar. "And therefore, you find countries today wanting to have trade relations built on rupee trade," said Sitharaman while addressing students and professors at her alma mater. "As a central university, JNU

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