India to push for rupee trade in G-20 meetings

March 28, 2023

India will be looking to push the rupee trade agenda in the G-20 meetings it is organising as part of its ongoing presidency of the forum, a senior bureaucrat said on Monday.

Commerce Secretary Sunil Barthwal said rupee trade will be of help, especially with those countries whose currencies are under pressure.

“Definitely, we would like to see that rupee trade also happens, particularly those countries which are facing issues,” Barthwal told reporters here, replying to a specific question if India will be looking at the upcoming G-20 meeting of the trade and investment group as a platform to boost rupee trade.

He also said that the issue of rupee trade is not directly linked with the G-20 forum.

It can be noted that as of now, India has been successful in forging agreements with 18 countries since embarking on the agenda of settling trade in the rupee amid currency volatility last year. India is the President of G-20 in the current term.

About 100 delegates from various G-20 countries, special invitee countries and international organisations will be attending the three-day meeting in the financial capital from Tuesday.

The ministry has already prepared five priority areas to be discussed at the meeting, Barthwal said, adding that the deliberations will be the stepping stones for the final G-20 leaders meeting in September.