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Trade in ₹ may boost Sri Lanka's fabric imports from India

15 Mar '23
2 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

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  • Sri Lanka is one of eight nations which have opened vostro accounts in India for trade in rupee. This will make it easier for Sri Lankan garment units to source fabrics from India. Sri Lanka's fabric import from India increased to $593.261 million in 2022. Trade in rupee will reduce demand for US dollar, benefiting both India and partner countries.
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