India executes first Rs 1 crore pulses export to Myanmar under Rupee-Kyat trade settlement mechanism

The first transaction of over Rs 1 crore pulses export from India to Myanmar under the Rupee-Kyat trade settlement mechanism was successfully completed. The transaction aims to boost bilateral trade and promote the use of local currencies. The Central Bank of Myanmar released guidelines for payment procedures and the Indian mission organising awareness events to encourage businesses to benefit from the mechanism.