怒火攻心

India Launches Rupee-Based Trade to Tackle Forex-Related Issues, Including Western Sanctions: Expert_我的网站

一 |     日前，由省总工会主办的辽宁省工会关爱凝聚新就业形态劳动者“流动暖新”主题活动暨沈阳市总工会“流动促入会”品牌工作观摩活动在沈阳举行，现场发布了针对新就业形态劳动者的23项服务清单。    Sputnik spoke with Professor N.R. Bhanumurthy, a prominent economist and vice-chancellor of the Dr. B.R. Ambedkar School of Economics University, Bengaluru (BASE University), about the decision to allow trade settlements in rupees and its impact.,Sputnik: What prompted the RBI to launch trade settlements in rupees?,Prof. Bhanumurthy: It is mostly to do with managing foreign exchange issues, especially when there are some shocks from the global financial system.,India must have smooth trade settlements since it has been trading with multiple countries.,There was a proposal to raise rupee-denominated bonds outside the country, which is also part of the transition.,So, it has a long-term strategy of the rupee also becoming one of the currencies of the international basket. Right now, we have only five recognized currencies. The latest currency added to the list was China's yuan. So, this is part of India's long-term mission.,Sputnik: Will this step help India resume sanctions-proof trade with countries like Iran, Venezuela, and Russia?,Prof. Bhanumurthy: We already have rupee-denominated trade with Iran, especially oil bills being settled in rupees. The Reserve Bank of India's decision is only to showcase that India is also emerging as a big player in the foreign exchange market.,This is only the beginning of the long process where India would like to see the rupee as one of the international currencies. In the process, all these things — like countries with a problem with foreign exchange reserves, nations with trade sanctions — all these will be taken care of.,In the future, disturbance or volatility in the foreign exchange market will increase, especially what we see in Russia or what we see in China. All those things will start having their own repercussions on the forex markets. So, it's better for India floating its currency-based trade.,Sputnik: Would other countries be interested in trading in national currencies with India?,Prof. Bhanumurthy: Certainly yes, because right now India's trade links are increasing, especially in the service sector; our trading links are expanding in a big way. There will be a much greater increase in the volumes of rupee trade. So if countries start trading through the rupee, business costs will be reduced.,India has signed an agreement with the UAE for rupee-based trade. Venezuela has also expressed interest.,Sputnik: How would this impact trade in the dollar or India's foreign exchange reserves?,Prof. Bhanumurthy: Foreign exchange reserves, which are currently around $600 billion, are not entirely in US dollars. A certain proportion of this is in US dollars, while the amount is also in euros, British pounds, and gold. So, I do not think rupee trade will impact trade volumes in the dollar. Whichever countries do not have a rupee-denominated trade deal with India, they can choose to settle their transactions in dollars. So, the dollar trade is still there.,Some areas where India is a significant trader, e.g. the European Union, and other countries like the UK is one country where we also have good trade relationships, and they are not part of the euro now. So all these things will help in increasing the rupee trade.,However, it does not mean it will negatively impact US dollar trade. They will actually complement each other. 10 years back, India used to settle most of its trade in US dollars. Now it also pays in euros, British pounds, as well as in Japanese yen.,Sputnik: Will it benefit countries in South Asia or other parts of the world facing foreign exchange crises?,Prof. Bhanumurthy: It is possible. Ultimately, every country would like to trade. If the US dollar becomes too expensive, it creates trouble for countries with a forex crisis to trade. In that situation, countries with limited foreign exchange reserves can always explore rupee-denominated trade. That is undoubtedly an area where India can take advantage.,Sputnik: Could India face US anger in some sense?,Prof. Bhanumurthy: I doubt all this can happen. We are sitting with a substantial foreign exchange reserve. If that were the case, China would have faced retaliation long back.,Retaliation options are very limited in forex markets. Productivity is one thing everybody can compete for; the rest is only settlement. Countries can only compete in productivity.,Et Tu? US Steals Most of Australia's Sale to China Amid Trade Row, Finds Study30 November 2021, 08:15 GMT,Sputnik: What should India do to strengthen the chances of making the Indian rupee a global currency?,Prof. Bhanumurthy: Productivity is a significant factor that can boost India's ambition to enhance its rupee-denominated trade. So, we need to keep improving our productivity. Second, India needs to create infrastructure to start having short-term trading in the foreign exchange market. Some countries that trade with the rupee also need to have a kind of transaction in a foreign exchange market.,The exchange rate becomes an important variable for those countries trading in the Indian rupee. So there should be some foreign exchange market institutions, and the Indian Central Bank should also be in a position to address any risk associated with other countries, wherever the rupee foreign exchange reserves are.,Any global currency possesses some characteristics — character India needs to ensure so that the Indian rupee will become a global currency.。         　　据了解，为紧密结合新就业形态劳动者群体“流动分散”的特点和所需所盼，进一步扩大工会组织对新业态企业和劳动者的服务覆盖，省总工会精心打造“流动暖新”工作品牌，创新开展系列流动服务项目，将工会服务和关心关爱送到新就业形态劳动者身边。         　　最新推出的23项服务清单，省总工会进行了深入调研并广泛征求意见，内容包括：组织新就业形态劳动者参加“先锋杯”体育赛事和书画摄影文化赛事等群众性文体活动，鼓励支持其参评劳动模范、五一劳动奖章推荐评选，开展最美货车司机评选等活动，组织开展新业态行业职业技能竞赛，投入专项资金支持劳动者提升学历层次和文化素质，在“两节”和重要时间节点走访慰问职工，开展“工会送清凉”活动，组织优秀职工参加疗休养活动，依托职工疗养院或购买专业机构服务开展移动体检，进行女职工“两癌”筛查，帮助实现就业再就业，赠送专项意外伤害职工互助保险或给予补贴，开展内容丰富的心理健康服务，畅通网上便捷入会渠道并提供及时精准普惠服务，通过建设工会驿站解决户外劳动者“吃饭难、喝水难、休息难”等问题，通过建设“司机之家”为货车司机提供停车、休息、餐饮、淋浴、洗衣、车辆维修、紧急救援、优惠加油等增值服务。         　　省总工会人士表示，下一步，我省将对2024年至2026年新发展会员25人以上的新业态领域新建工会给予2000元至4万元的一次性工作经费补助，推动构建职工“15分钟法律服务圈”，做好12351工会服务职工热线接听和办理工作，探索创新通过区域性、行业性职代会以及其他民主形式维护新就业形态劳动者合法权益，并以货车司机、网约车司机、外卖员、快递员4个群体为重点，推动在辽头部平台企业开展行业集体协商。                    责任编辑：李丹。

Current article:http://xj4.licuqiangraosuiheizhua.pics/a7euk8/nvzkiu2.html

Published on:17:33:16