There’s some good news for merchants in India this week, almost a year ago the Reserve Bank of India limited cross border payments to India to just $500. That’s now been raised sixfold to $3000 per transaction with immediate effect.
To comply with banking requirements merchants will have to go through some additional verification adding banking details to PayPal, but that’s a small price to pay for the many merchants who want to export precious stones and diamonds, higher value hand-made jewellery, leather products and ethnic Indian clothing to the rest of the world.
eBay have around 2.5 million users in India and 12-13,000 sellers who rely on the site for some or all of their income. Look out for some new listings on eBay for the goods they’ve not been able to sell for the last year.
