India, Aug. 21 -- The government on Thursday put export earnings received in Indian rupees on the same footing as those received in freely convertible currencies such as the US dollar and euro for availing benefits under the Foreign Trade Policy (FTP), in a move that could encourage greater use of the rupee in international trade.

The change means eligible exporters receiving payment in rupees through approved banking channels will be able to claim FTP benefits and count those receipts towards their export obligations, as they would with eligible foreign-currency earnings.

The Directorate General of Foreign Trade (DGFT) amended the FTP 2023 with immediate effect, aligning its provisions with the Reserve Bank of India's Foreign Exchange ...