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PRIMAS President, Mr. J. Govindasamy @ Suresh attended Discussion on the Settlement of Malaysia-India Trade in Indian Rupees @ 4.00 p.m. in the Royal Lake Club, Kuala Lumpur, organized by the India International Bank Malaysia and Asean India Business Council, in the gracious presence of H. E. Mr. B. N. Reddy, the High Commissioner of India.

It covered the India and Malaysia agreement to settle trade in the Indian rupees, announced by the Ministry of External Affairs. The announcement came in the backdrop of ongoing official efforts to Safeguard Indian trade, thus this mechanism is expected to enhance India-Malaysia bilateral trade which will allow the Indian and Malaysian traders to invoice the trade in Indian Rupee and therefore achieve better pricing for goods and services traded. This mechanism is expected to also benefit the traders on both sides as they can directly trade in Indian Rupee and therefore save on currency conversion spreads.