Draft RBI/2025-26/XX A.P. (DIR Series) Circular No. XX April XX, 2025 All Authorised Dealers Madam / Sir, Export and Import of Goods and Services Reserve Bank of India, in exercise of the powers conferred under the Foreign Exchange Management Act, 1999 (42 of 1999) and the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2025 hereby directs all Authorised Dealers (AD) to be guided by the following rules/regulations issued under Foreign Exchange Management Act, 1999 (FEMA) while handling transactions related to export and import of Goods and Services, including merchanting trade transactions.

Draft Notification No. FEMA XX/2025-RB April XX, 2025 Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2025 In exercise of the powers conferred by Section 7, Section 8, sub-section (6) of Section 10 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of the Foreign Exchange Management (Export of Goods & Services) Regulations 2015 (Notification No. FEMA 23(R)/2015-RB dated January 12, 2016), except in respect of things done or omitted to be done before such supersession, Reserve Bank of India makes the following Regulations, namely: