Clarification on Exim Policy matters concerning Indian exports to Russia

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..... ) All Commissioners of Customs, (3) The Federation of Indian Export Organizations, New Delhi (4) All Chambers of Commerce and Industries /Assoication on mailing list. Subject: Clarification on Exim Policy matters concerning Indian exports to Russia Sir, Representations have been received from various exporters seeking clarifications on the matters relating to Indian exports to Russ .....

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..... an advance licence can now be issued against transferable Letter of Credit opened against funds available in Special rupee Escrow Accounts provided transferable Letter of Credit is transferred in the name of the applicant exporter prior to filing of the advance licence application through proper banking channel.In such exports, the export benefits would be available only to the transferee.This be .....

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..... a. It is however not available for the rupee denominated exportes . (c) Denial of privileges under Special Import Licence It is clarified that the exports against the US$ denominated Special Escrow Accounts maintained with RBI or commercial banks in India is eligible for Special Import Licence (SIL) in the same manner as the exports, the payments for which is received in free foreign exchange. .....

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