Home |Sitemap |FAQs |Contact Us
Product Country
Increase Font Size Decrease Font Size
Menu
Market News
 
DGFT to soon notify norms for export sops on rupee receipts.
Nov 07, 2022

The Directorate General of Foreign Trade (DGFT) may soon notify norms for permitting exporters to avail incentives under the foreign trade policy, even on realisation in rupee, an official said. The DGFT, under the commerce ministry, has already allowed invoicing, payment and settlement of exports and imports in Indian rupee, a move aimed at facilitating trade in the domestic currency.
 
In July, the Reserve Bank of India (RBI) had asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency.
 
'To permit exporters avail incentives under the foreign trade policy, norms will have to be notified for that,' the official said.
 
The DGFT has stated that settlement of trade transactions in INR may also take place through special rupee vostro accounts opened by authorised dealer banks in India.
    
economictimes.indiatimes.com

Archive
 

Trade Leads

Directory's

APEDA Agri Exchange

News & Analysis

Contact

  • Agricultural and Processed Food Products Export Development Authority (APEDA)
    (Ministry of Commerce & Industry, Govt. of India)

  • NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
    Phone : 91-11-41486013, 20863919, 20867008, 20867007