After the guidelines issued by RBI on 11th July 2022 in relation to settlement of international trade in Indian Rupees, Industry was expecting the relief from central government in the norms of export promotion schemes.

Now Central Government comes with amendments in foreign trade policy 2015-20 to allow the rupees settlement of international trade for export promotion schemes. The changes have comes to permit export benefits/fulfillment of export obligations for invoicing, payment of settlement of exports and imports in INR, as per RBI’s Guidelines.

Complete notification in this regards is enclosed for reference purpose, alternatively detail can be accessed on the website of DGFT at Directorate General of Foreign Trade | Ministry of Commerce and Industry | Government of India (dgft.gov.in)