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RBI gives nod to India-Malaysia rupee trade; to boost exports

This RBI initiative aims to foster trade growth and support the interests of the global trading community by facilitating transactions in Indian rupee, MEA said in a statement. 

The textile trade between the two countries nearly doubled in **** and the recent decision can be expected to further boost the bilateral trade. India&#**;s apparel exports to Malaysia reached $***.*** million in **** from $**.*** million in ****. Outbound shipments stood at $**.*** million in ****, $**.*** million in ****, $**.*** million in ****, and $**.*** million in ****, according to Fibre2Fashion’s market insight tool TexPro.