Walton has started export trade operations with India in rupees following the initiative to start bilateral trade between Bangladesh and India in rupees.

Standard Chartered Bangladesh executed the first BDT-INR export transaction for Walton.

In this regard, Walton Hi-Tech Industries PLC. and Standard Chartered Bangladesh (SCB) signed the first BDT-INR foreign exchange deal at a five-star hotel in the capital on Monday.

On behalf of their respective organisations, Walton Hi-Tech Industries Managing Director (MD) and CEO Golam Murshed and SCB's CEO Naser Ezaz Bijoy inked the deal.

Walton Hi-Tech's MD and CEO Golam Murshed said, "Bangladesh is currently using US dollars to settle foreign trade transactions. Since the beginning of the Russia-Ukraine war, we are facing dollar crisis. The value of the dollar against the taka has been appreciated sharply, which has had a significant impact on the country's foreign exchange reserves. In such a situation, India and Bangladesh's bilateral trade settlement in Rupees has been introduced to reduce. To make this initiative of the two countries successful, Walton has started export trade with India in INR."

In the financial year 2021-22, the bilateral trade between Bangladesh and India was about $16 billion dollars. Out of which, Bangladesh's export was $ 2 billion. Under the new system, Bangladeshi traders will be able to settle bills of up to $2 billion for imports from India in Rupees. In this regard, Walton's initiative to start export trade activities with India in rupees will play a vital role.