Pre-shipment and Post-shipment Export Credit and Packing Credit in Foreign Currency (PCFC) for E-Commerce Exports - DGFT - Trade Notice No. 26/2023-24

Government of India Ministry of Commerce Industry Department of Commerce Directorate General of Foreign Trade Dated: 4th September 2023 Vanijya Bhawan, New Delhi Trade Notice No. 26/2023-24 To 1. All E-Commerce Exporters 2. Members of Trade Industry 3. Banking and Financial institutions concerned. Subject: Pre-shipment and Post-shipment Export Credit and Packing Credit in Foreign Currency (PCFC) for E-Commerce Exports - reg. Reference Chapter 9 of the new Foreign Trade Policy 2023 on Promoting Cross Border Trade in Digital Economy , it is submitted that consultations were held with industry representatives, exporters, and nodal departments on outstanding issues pertaining to exports through E-Commerce. One issue flagged was the unavailability of Pre-shipment and Post-shipment export credit for E-Commerce exports. In this regard, consultations were held with RBI. 2. Reference the said consultation with RBI, it is clarified that Master Circular-Rupee / Foreign Currency Export Credit and Customer Service to Exporters furnishes a comprehensive framework, allowing for access to Pre-shipment and Post-shipment export credit and Packing Credit in Foreign Currency (PCFC) to all eligible exporters which does not preclude E-Commerce Exporters. 3. Banking and financial institutions concerned are therefore encouraged to extend Pre-shipment and Post-shipment Export Credit and Packing Credit Loan in Foreign Currency (PCFC) to E-Commerce exports based on the extant guidelines issued by RBI. Any issues in availing such Export Credit may be brought to attention by E-Commerce Exporters or banks to this Directorate. This issues with approval of the Competent Authority. (Md. Moin Afaque) Deputy Director General of Foreign Trade E-mail: afaque[dot]moin[at]gov[dot]in [ File No. 01/94/180/307/AM20/PC-4/E-20480 ]