RESERVE BANK OF INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
MUMBAI 400 001
Notification No. FEMA. 310/2014-RB
June 12, 2014
Foreign Exchange Management (Export of Goods & Services) (Second
Amendment) Regulations, 2014
In exercise of the powers conferred by clause (a) of sub-section (1),
sub-section (3) of Section 7 and sub-section (2) of Section 47 of the Foreign
Exchange Management Act, 1999 (42 of 1999) and in partial modification of its
Notification No.FEMA.23/2000-RB dated May 3, 2000 as amended from time to time,
Reserve Bank of India makes the following amendment in the Foreign Exchange
Management (Export of Goods and Services) Regulations, 2000, as amended from
time to time, namely:
1. Short title and commencement
(i) These Regulations may be called the Foreign Exchange Management
(Export of Goods and Services) (Second Amendment) Regulations, 2014.
(ii) They shall come into force from the date of publication in Official
Gazette.
2. Amendment to the Regulations
In the Foreign Exchange Management (Export of Goods and Services) Regulations,
2000 (Notification No.FEMA.23/2000-RB dated May 3, 2000) (hereinafter called
“the principal regulations”), the following amendments shall be made, namely:-
(i) in Regulation 2, clause (x) shall be deleted.
(ii) the existing Regulation 18 shall be substituted as follows, namely:
18.“ Project exports
Where an export of goods or services is proposed to be made on deferred payment
terms or in execution of a turnkey project or a civil construction contract, the
exporter shall, before entering into any such export arrangement, submit the
proposal for prior approval of the approving authority, which shall consider the
proposal in accordance with the guidelines issued by the Reserve Bank of India
from time to time.
Explanation:
For the purpose of this Regulation, 'approving authority' means the EXIM Bank of
India or the authorised dealer”
(C.D. Srinivasan)
Chief General Manager
Foot Note:
The Principal Regulations were published in the Official Gazette vide G.S.R.
No.409 (E) dated May 8, 2000 in Part II, Section 3, Sub-section (i) and
subsequently amended vide
a. G.S.R. No. 199 (E) dated March 21, 2001
b. G. S. R. No. 473 (E) dated July 8, 2002
c. G. S. R. No. 773 (E) dated September 29, 2003
d. G. S. R. No. 900 (E) dated November 22, 2003
e. G. S. R. No. 279 (E) dated April 23, 2004
f. G. S. R. No. 352 (E) dated June 8, 2004
g. G. S. R. No. 576 (E) dated August 5, 2008
h. G. S. R. No. 896 (E) dated December 17, 2012
i. G. S. R. No. 342 (E) dated May 29, 2013
Published in the Official Gazette of Government of India –
Extraordinary – Part-II, Section 3, Sub-Section (i) dated 08.07.2014-
G.S.R.No.434 (E)