What are the provisions governing exports from India?
A. Export trade is regulated by the Directorate General of Foreign Trade (DGFT) and its regional offices, functioning under the Ministry of Commerce and Industries, Department of Commerce, Government of India. Policies and procedures required to be followed for exports from India are announced by the DGFT. Branches should conduct export transactions in conformity with the Export-Import Policy in vogue and the Rules framed by the Government of India). Further, RBI has made the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 relating to export of goods and services from India. These Regulations have been notified vide Notification No. FEMA 23/2000-RB, dated 3rd May, 2000, as amended from time to time.
