NEW DELHI: Indian tea exporters are getting interest from the United Arab Emirates and sanctions-hit Russia and Iran to pay in rupees, a nod toward the government’s plan to settle international trade in the local currency.
Buyers from those countries are keen to pay rupees for Indian shipments, said PK Bhattacharya, secretary general of the Tea Association of India, an industry group that mainly represents producers in northern regions. This follows the central bank’s push to internationalize the currency, he added.
