India'S Monetary Policy Bilateral Trade Order Has Been Disrupted.

Recently, Mr. Zhang, the head of a textile enterprise in Keqiao, was fidgeting. On the 8 day, India Premier Modi suddenly announced that he would stop using 500, 1000 rupees and two large denominations of banknotes.

Influenced by this new deal, many normal bilateral trade orders have been disrupted.

In order to crack down on illegal money laundering and promote tax returns, India Prime Minister Modi suddenly announced the 500, 1000 rupee two large denominations on the evening of 8.

Overnight, it will be "instantly scrapped" and all ATM ATM machines will be suspended on 9-10, two.

It will also issue 500 new rupees and 2000 rupees.

Indians have the habit of hiding cash.

Mr. Zhang told reporters that he had been to the fabric market in India, and found that the local people basically settled their businesses in cash, and their yard and car trunk would have plenty of cash.

Modi's policy is equivalent to making money in many homes pparent at once.

Mr. Zhang's export business is 70% in the India market and more than 10 in India.

"Basically, every other day, there are 1 containers exported to India. Now India customers have no time to do business, and India's market is also in a state of suspension.

Yesterday, there were 1 containers coming out, which had been stopped urgently. There were 4 deliveries in the storehouse, and they could only be shelved.

More importantly, Mr. Zhang still has 2 million dollars in the India market.

"A few days ago is the most important holiday in India -- Tiwari, everyone is busy with the festival. The original payment will be fought after the holidays, but now the India customers have said that there is no way to remit the money on time."

Like Mr. Zhang, another family in Keqiao.

Mr. Yang, the head of trading company, is also very worried.

Mr. Yang looked at the news carefully and learned that Indians could exchange the old large money to the bank or post office by December 30th, but they had to register, explain the source of currency and fill in many documents. The process is very complicated.

"By the end of the year, a lot of suppliers on my side are waiting to check out. If India merchants can not make payment, my capital flow will also be affected."

Mr. Yang said with anguish.

The reporter learned from the Shaoxing customs that 1-9 months in Shaoxing this year, the total number of imports and exports of the countries along the belt and road was 54 billion 110 million yuan, and India accounted for more than 11%, showing a steady growth year by year.

The industry is worried that "Moody's New Deal" will have a negative impact on bilateral trade.

The reporter consulted the relevant officials of the Municipal Bureau of Commerce.

It is all import and export business related to India.

But this difficulty should be temporary, and believe that the impact will soon be over, and the relevant textile enterprises need not worry too much.