India-UAE trade in rupees, dirhams crosses double-digit mark

India-UAE bilateral trade settled in Indian rupees and UAE dirhams has crossed the double-digit mark, Commerce and Industry Minister Piyush Goyal announced Monday. The minister noted that overall bilateral trade is approaching pre-war levels and is projected to recover further in the coming months.

Goyal said businesses are increasingly recognising the advantages of rupee-dirham settlements in light of ongoing geopolitical disruptions. The shift toward local currency transactions reflects efforts by both nations to reduce dependence on traditional settlement mechanisms.