The Directorate General of Foreign Trade (DGFT), functioning under the Ministry of Commerce and Industry (MoCI), has relaxed regulations for rupee-based export transactions to provide Indian exporters with greater flexibility.
Rupee-denominated payments for exports to any country, except Nepal and Bhutan, will qualify for benefits under the Foreign Trade Policy (FTP) and count toward the fulfillment of export obligations. The DGFT also specified that exports financed through the Export-Import Bank of India (EXIM Bank) or Government of India (GoI) lines of credit may be invoiced in INR.