India and Japan to allow direct rupee yen transactions
Business
India and Japan are teaming up to let businesses trade directly in rupees and yen, instead of always using US dollars.
The new system should make deals faster and cheaper for both sides by cutting out extra currency conversions.
Sanae Takaichi to visit New Delhi
This trade framework is expected to be announced when Japanese Prime Minister Sanae Takaichi visits New Delhi from July 1-3, 2026.
Along with this, both countries will talk about working more closely on defense, tech (think semiconductors), and building stronger supply chains.
With Japan pledging to invest over $61 billion in India over the next decade, it's clear both nations want deeper economic ties in the Indo-Pacific region.