RBI/2007-2008/25
Master Circular No/09/2007-08

July 2, 2007

To,

All Banks Authorised to Deal in Foreign Exchange

Madam / Sir,

Master Circular on Export of Goods and Services

Export of Goods and Services from India is allowed in terms of clause (a) of sub-section (1) and sub-section (3) of Section 7 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. GSR 381(E) dated May 3, 2000 and FEMA Notification 23/RB-2000 dated May 3, 2000 as amended from time to time.

2. This Master Circular consolidates the existing instructions on the subject of "Export of Goods and Services from India" at one place. The list of underlying circulars is furnished in Appendix.

3. The circular is organized into five parts as under:

Part 1 : Introduction
Part 2 : General guidelines for exports
Part 3 : Operational guidelines for the AD Banks.
Part 4 : Annex (notifications and the forms for exports)
Part 5 : List of all circulars consolidated in the master circular.

4.   This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 01, 2008 and be replaced by an updated Master Circular on the subject.

Yours faithfully,

(Salim Gangadharan)
Chief General Manager