India Considers Real-Time Euro FX Settlement Amid EU Trade Push

India is considering introducing real-time foreign-exchange settlements in euros at its sole international financial hub, according to people familiar with the matter, a step that would deepen financial ties as the European Union-India trade deal progresses.

The International Financial Services Centres Authority (IFSCA), which regulates the hub, has approached the government to permit the use of the euro alongside the US dollar for such settlements, the people said, declining to be identified because the discussions are private.