India's Digital Rupee Set for Global Stage with EU Collaboration in FTA

• India and the EU's proposed Free Trade Agreement (FTA) uniquely includes cooperation on Central Bank Digital Currency (CBDC).
• The 'Digital Rupee', currently in pilot phase, aims for widespread launch and international acceptance through this collaboration.
• Article 8-C.13 of the FTA's 'Annex 8-C' specifically outlines cooperation on financial services, including CBDCs, supervisory tech, and regulatory tech.
• This unprecedented inclusion in an FTA signals a future where global trade is based on digital and 'programmable money'.
• The partnership will foster interoperability between India's Digital Rupee and the EU's Digital Euro, enabling instant, low-cost cross-border payments and remittances.