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India and UAE agree on trade settlement in local currencies, linking Fast Payment Systems

india and the uae on saturday agreed to start trade settlement in their currencies and link the indian unified payments interface with the gulf country’s instant payment platform (ipp) as prime minister narendra modi held comprehensive talks with uae president sheikh mohamed bin zayed al nahyan here. in his remarks after meeting the uae president, modi said india-uae trade witnessed a 20 per cent increase since the signing of the comprehensive economic partnership agreement last year. pm modi said the agree

Rupee | India and UAE sign agreement to use local currencies Indian rupee (INR) and UAE Dirham (AED) for cross-border transactions

Both countries also joined hands for interlinking their payment and messaging systems which included UPI and latter’s Instant Payment Platform

Central Bank: Trade with UAE up 20%, MoUs to boost ties: PM Modi | India News

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