INDIA. Delhi Duty Free says it has become the first retailer to migrate to pricing and billing in Indian Rupees after the Central Board of Customs & Excise (CBEC) issued a new directive on credit and debit card payments.
All of the retailer’s product prices will now be displayed in Indian Rupees, while billing will also be in the home currency.
In line with a notification from Reserve Bank of India, CBEC said passengers will be permitted to purchase goods at duty free shops in Indian Rupees up to Rs25,000 (US$393).
There has been no change to the duty free allowance limit, which remains Rs72,000 (US$1,131) per passport.
Delhi Duty Free said the changes would benefit customers in terms of price awareness and the ability to save on foreign exchange conversion charges.
“We have been keen to introduce this for a long time,” said Delhi Duty Free CEO Luke Gorringe.
“Although the changes involved significant restructuring of business processes and software & finance reporting, we managed to successfully migrate to the new process within a few days.
“This will prompt Indian nationals to spend more and support the latest payment mechanisms like wallet based payment, e-payments & contactless payments.
“This will greatly help foreign nationals aswell. They are likely to save significantly on foreign currency exchange to Indian Rupees for payments in top global currencies.”