Need help ** Calculate the arbitrage free forward rate

Hi Can some one help me on the below,

thanks in advance!!!

Ansh Agri exports agro products to Walmart,usa for 15000 usd on Jan 10. Walmart will make the payment on mar 10. The dollar price on jan 10 was rs. 72.15. concerned about currency risk, it enters into a Non deliverable forward with Axis bank, where the forward rate is fixed at rs 74.55 per dollar with the expiry of the contract on mar 10. If on mar 10 the spot closed at ₹.70.95, who is going to gain from the transaction and what will be the settlement.

Part 2 : based on the above problem calculate the arbitrage free forward rate if the risk free rates in us and india are 3% and 8% respectively