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Export Payments in Rupees Now Eligible for FTP Benefits

22 August 20261 min read
ECONOMYExport Paymentsin Rupees NowEligible for FTPBenefits22 August 2026safalsetu.com

Why in the news

The Directorate General of Foreign Trade changed the Foreign Trade Policy 2023 to remove a snag faced by exporters who receive payment in Indian rupees.

Key facts

  • Authority: DGFT; policy amended: Foreign Trade Policy 2023.
  • Problem earlier: claiming FTP benefits could be hard when payment came in rupees.
  • Outside the Asian Clearing Union (ACU), invoicing may be in rupees or foreign currency.
  • Receipts through approved banking channels qualify; Nepal and Bhutan exports are left out under that provision.

Significance

  • Meant to promote wider international use of the rupee and make rupee trade simpler.

Exam angle

  • Body: DGFT; group named: ACU.
  • Excluded under the provision: Nepal and Bhutan.

Test yourself

1. Which authority amended the Foreign Trade Policy 2023 to ease export payments in Indian rupees?

DGFT made the amendment.

2. Exports to which pair of countries are excluded from the rupee-payment FTP benefit provision?

The notes exempt Nepal and Bhutan under the specified provision.

3. For exporters to countries outside the ACU, contracts and invoices may now be in rupees or what?

Contracts and invoices may be in rupees or foreign currency.

This topic is part of Daily Current Affairs 21 August 2026 (25 topics).

All topics of the dayDay quizAugust 2026

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