Exporters say ₹ trade settlement is a timely move

 The RBI's move to settle trade transactions in rupee was cheered by exporters. They this would enable trade with sanction hit nations.

One of the main triggers was to ease the disruptions created by international trade since Russia's invasion onUkraine. 

With western nations imposing sanctions on Russia exporters were staring at payments related challenges. 

The decision is crucial regarding India's rising dependence on russian crude oil. This will also mive Rupee as an International currency.

Rupee is currently partially convertible. Making this fully convertible will enable easier conversion into another currency. 

Trade with Russia was at a standstill due to payment problems ,this mechanism will ease the payment problems with Russia.