Export of Goods and Services - FEMA - 002

Export of Goods and Services RESERVE BANK OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI - 400 001 A.P. (DIR Series) Circular No.2 July 4, 2002 To, All Authorised Dealers in Foreign Exchange Madam/Sirs, Export of Goods and Services Attention of all authorised dealers is invited to A.P.(DIR Series) Circular No.6 dated 24th September 2001 in terms of which manufacturer exporters of certain products and having export contracts of Rs.100 crore and above in value terms in one year have been allowed a period upto 365 days from the date of shipment for the realisation and repatriation of full value of the exports of products specified. 2. On review it has been decided to include products of aluminium, petroleum products, sugar and foodgrains as eligible products for exports with extended period of realisation. It is clarified that the above facility would also be available to merchant exporters / traders. 3. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 4. The directions contained in the circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager