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ARTICLE · 08 MAY 2025

RBI Releases Draft FEMA Rules On Foreign Trade

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The Reserve Bank of India (RBI) vide its Press Release dated April 04, 2025, has released revised draft Regulations and Directions under the Foreign Exchange Management Act (FEMA), 1999, concerning the export and import of goods and services.

IndiaInternational Law
SNG & Partners
SNG & Partners

The Reserve Bank of India (RBI) vide its Press Release dated April 04, 2025, has released revised draft Regulations and Directions under the Foreign Exchange Management Act (FEMA), 1999, concerning the export and import of goods and services. This follows an earlier public consultation initiated on July 2, 2024.

The updated draft consolidates existing directions issued to Authorised Dealers (ADs), aiming to simplify compliance and enhance clarity. The draft Regulations titled "Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2025", will supersede the 2015 version and come into effect nine months post-notification.

The key provisions include mandatory submission of the Export Declaration Form (EDF), timelines for realisation of export proceeds (within nine months), and conditions for reduction in export realisation. It also outlines protocols for set-offs between export receivables and import payables, third-party payments,

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