Read or download the official PDF of this gazette notification issued by the Ministry of Commerce and Industry on 20th August 2026. Classified under Extra Ordinary.
Executive Summary
This notification, issued by the Directorate General of Foreign Trade on August 20, 2026, amends Paragraphs 2.52 and 2.53 of the Foreign Trade Policy (FTP) 2023. The purpose is to align export contract denominations and the eligibility of FTP benefits with the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023. These changes, which allow for broader use of Indian Rupees (INR) in trade settlements and incentive claims, are effective immediately.
Key Points / Main Content
Denomination of Export Contracts (Para 2.52)
General Provisions: All export contracts and invoices, excluding those with Asian Clearing Union (ACU) member countries, may be denominated in either foreign currency or Indian Rupees.
ACU Member Countries: For ACU members (excluding Nepal and Bhutan), contracts must be denominated in a currency determined by the ACU or settled according to Reserve Bank of India (RBI) directions.
Nepal and Bhutan: Trade contracts must be denominated and settled in INR or as per specific RBI directions.
Lines of Credit: Export contracts and invoices under EXIM Bank or Government of India Lines of Credit may be denominated in INR.
Eligibility for FTP Benefits (Para 2.53)
Parity of Realization: Export proceeds realized in INR through banking channels—specifically credited to Indian Rupee accounts of persons resident outside India—are now eligible for FTP benefits, incentives, and fulfillment of Export Obligations.
Treatment of INR: Such INR realizations are treated at par with exports realized in freely convertible foreign currency.
Exclusions and Special Cases: While the parity applies generally (excluding Nepal and Bhutan), exports to Iran remain subject to the specific compliance requirements and provisions of Para 2.19 of the FTP.
Impact Analysis
Indian ExportersImpact
Exporters gain greater flexibility by being able to invoice and realize export proceeds in INR while remaining eligible for all FTP incentives and export obligation discharges.
Action Required
Exporters must ensure that INR proceeds are received through authorized banking channels and credited to the appropriate non-resident INR accounts in compliance with Foreign Exchange Management (Deposit) Regulations.
Banking InstitutionsImpact
Banks are responsible for facilitating the settlement of trade in INR and maintaining the necessary Special Vostro accounts or non-resident INR accounts as per RBI guidelines.
Action Required
Banks must align their settlement processes with the updated RBI and ACU directions to ensure exporters can accurately document their realizations for FTP benefit claims.
Directorate General of Foreign Trade (DGFT)Impact
The DGFT is now mandated to accept INR realizations as valid proof for fulfilling Export Obligations and granting incentives across various FTP schemes.
Action Required
Administrative offices must update their internal verification protocols to process claims where proceeds have been realized in INR rather than freely convertible foreign currency.
Key Entities Referenced
Foreign Trade Policy (FTP) 2023: The primary policy framework being amended to revise provisions concerning the denomination of export contracts and realization of export proceeds.
Foreign Trade (Development & Regulation) Act, 1992: The governing legislation under which the Central Government exercises powers to amend the Foreign Trade Policy.
Asian Clearing Union (ACU): An international organization whose member countries have specific settlement and denomination rules for export contracts under this amendment.
Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023: Key regulations with which the Foreign Trade Policy is being aligned to facilitate export realizations in Indian Rupees.
Directorate General of Foreign Trade (DGFT): The primary regulatory body under the Ministry of Commerce and Industry responsible for issuing and administering these policy amendments.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-20082026-275628
CG-DxLx-xEG-I2D0H0x8x2x0 26-275628
xxxGIDExxx
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 4421] िई ददल्ली, बृहस्ट्प जतवार, अगस्ट्त 20, 2026/श्रावण 29, 1948
No. 4421] NEW DELHI, THURSDAY, AUGUST 20, 2026/SHRAVAN 29, 1948
वाजणज्य और उद्योग मत्रं ालय
(वाजणज्य जवभाग)
(जवदेि व्यापार महाजिदेिलाय)
अजधसचू िा
िई ददल्ली, 20 अगस्ट् त, 2026
स.ं 30/2026-27
जवषय: जवदेि व्यापार िीजत (एफटीपी) 2023 के परै ा 2.52 और 2.53 म ेंसिं ोधिके सबं धं म।ें
का.आ. 4601(अ).— समय-समय पर यथा संिोजधत जवदेि व्यापार िीजत 2023 के परै ा 1.02 और 2.01 के साथ
पठित, जवदेि व्यापार (जवकास एव ंजवजियमि) अजधजियम, 1992 की धारा 3 और धारा 5 के तहत प्रदत्त िजियों का प्रयोग
करते हुए, केंद्र सरकार एतद्द्वारा तत्काल प्रभाव स े जवदेि व्यापार िीजत (एफटीपी), 2023 के परै ा 2.52 और 2.53म ें
जिम्नजलजखत संिोधि करती ह:ै
परै ा स.ं मौिदू ा परै ा सिं ोजधत परै ा
2.52: जियाता सजं वदाओं का (क) सभी जियाात संजवदाओं और बीिकों (क) एजियाई समािोधि संघ (एसीय)ू के
को मुि रूप स े पठरवतािीय मुद्रा अथवा सदस्ट्य देिों को छोड़कर अन्य सभी
कोठटकरण
भारतीय रूपय े के मूल्य वग ा म ें रखा जियाात अिुबंधों और बीिकों को या तो
6421 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
िाएगा दकन्तु जियाात प्राजियां मुि रूप जवदेिी मुद्रा या भारतीय रुपय े म ें अंदकत
स ेपठरवतािीय मुद्रा म ेंवसूल की िाएगं ी। दकया िाएगा। जियाात प्राजियों को या तो
दकसी भी जवदेिी मुद्रा म ें या भारतीय
रुपय े म ेंप्राि दकया िाएगा।
(ख)जवजिष्ट जियाातों के जलए जियाात
(ख)िेपाल और भूटाि को छोड़कर एसीय ू
प्राजियां रूपयों म ें भी वसूल की िा
के सदस्ट्य दिे ों स ेिड़ु े जियाात अिुबंधों को
सकती ह,ै बित े दक: यह एजियाई एसीय ू द्वारा जिधााठरत मुद्रा म ें अंदकत
समािोधि संघ (एसीय)ू के सदस्ट्य दिे , दकया िाएगा। तथाजप, ऐस े लेिदिे को
िेपाल या भूटाि को छोड़कर दकसी भी
भारतीय ठरिवा बैंक द्वारा समय-समय पर
दिे म ें जस्ट्थत अप्रवासी बैंक के मुि रूप
िारी जिदेिों के अिुसार अंदकत और
स ेपठरवतािीय वोस्ट्रो खाते के माध्यम स े
जिपटाि भी दकया िा सकता ह।ै
हों।
वोस्ट्रो खाते के िठरए रूपय े का भुगताि
क्रेता द्वारा उसके अप्रवासी बैंक खाते म ें
मुि जवदेिी मुद्रा म ें भुगताि के माध्यम
स े हो।
खरीददार को अपिे अप्रवासी बैंक को
(बैंक सेवा प्रभार को घटािे के बाद) मुि
जवदेिी मुद्रा म ें दकए गए भुगताि को
जवदेि व्यापार िीजत के जियाात संवधाि
स्ट्कीमों के तहत जियाात वसूली के रूप म ें
जगिा िाएगा।
(ग) िपे ाल और भूटाि स े िड़ु े जियाात
(ग) संजवदाओं जििके जलए भुगताि
एजियाई समािोधि संघ (एसीय)ू के अिुबंधों को भारतीय रुपय ेम ेंया भारतीय
िठरए प्राि दकए िाएंगे, को आरबीआइ ठरिवा बैंक द्वारा समय-समय पर िारी
अजधसूचिाओं के अिुसार एसीय ू डॉलर जिदेिों के अिुसार अंदकत और जिपटाि
या एसीय ू यूरो म ें जिपटाि दकया दकया िाएगा। इसके अलावा, एजज़िम
िाएगा। केन्द्र सरकार उपयुि मामलों म ें
बैंक/भारत सरकार की ऋण व्यवस्ट्था के
इि प्रावधािों म ें छूट द े सकती ह।ै तहत जियाात अिुबंध और चालाि भी
एजजिम बैंक/भारत सरकार लाइि ऑफ भारतीय रुपय ेम ेंतय दकए िा सकते ह।ैं
क्रेजडट के तहत जियाात िेकों और बीिकों
को भारतीय रूपयों म ें तय दकए िा
सकते ह।ैं
(घ) जियाता और आयात का बीिक,
भुगताि और जिपटाि भी आरबीआई
ए.पी. (डीआईआर सीरीि) पठरपत्र स.ं
10 ददिांक 11 िुलाई, 2022 के तहत
अिुपालि के अधीि भारतीय रुपय े म ें
स्ट्वीकाय ा ह।ै भारतीय रुपय े म ें व्यापार
लेि-दिे को इि ददिाजिदिे ों का पालि
करिा होगा:
(i.)भारतीय आयातकों को भारतीय
रुपय े म ें भुगताि करिा होगा, जिस े
जवदेिी जवक्रेता/आपूर्ताकता ा से माल या
सेवाओं की आपूर्ता के जलए बीिक के[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3
तहत भागीदार दिे के संपका बैंक के
जविेष वोस्ट्रो खात े म ें िमा दकया
िाएगा।
(ii.)भारतीय जियाातकों को भागीदार
दिे के संपका बैंक के िाजमत जविेष
वोस्ट्रो खातें म ें िेष राजि स े भारतीय
रुपय े म ें जियाात आय का भुगताि दकया
िाएगा।
2.53भारतीय रुपय े म ें जियाता i. ईराि को जियाात के बदल े भारतीय िेपाल और भुटाि को छोड़कर दकसी भी
प्राजियों के जलए एफटीपी स्ट्कीमों रुपय े म ें प्राि जियाात आय को जवदेि दिे को दकए गए ऐसे जियाात, जििकी
की अिप्रु योज्यता व्यापार िीजत के तहत जियाात जियाात आय भारतीय रुपय े म ें बैंककंग
लाभ/प्रोत्साहि/जियाात दाजयत्वों की चैिलों केमाध्यम से, भारत स े बाहर
पूर्ता के जलए अिुमजत दी गई ह,ै िो दक जिवास करिे
मुि रूप स े पठरवतािीय मुद्रा म ें प्राि वाले व्यजियों के भारतीय रुपय े खातों म ें
जियाात आय, जवदेि व्यापार िीजत के िमा करके प्राि होती ह,ै और िो खात े
पैरा 2.19 के अिुपालि के अधीि ह।ै समय-समय
ii.पैरा 2.52 (घ) (ii) के अिुसार पर जवदेिी मुद्रा प्रबंधि (जडपॉजसट)
भारतीय रुपय े म ें प्राि जियाात आय को जवजियमों के अिुसार खोल े गए ह,ैं व े
जवदिे व्यापार िीजत के तहत जवदेि व्यापार िीजत के अन्तगता जियाात
जियाातलाभ/प्रोत्साहि/जियाात दाजयत्वों लाभ/प्रोत्साहि प्राि करिे और जियाात
को पूरा करिे की अिुमजत ह।ै दाजयत्वों की पूर्ता के जलए उसी प्रकार पात्र
होंगे, िैसे दकसी जवदेिी मुद्रा म ें प्राि
जियाात आय वाले जियाता होत ेह।ैं
ईराि को जियाात के मामल े म,ें उपरोि
प्रावधाि एफटीपी के पैरा 2.19 के
प्रावधािों के अिुपालि के अध्यधीि लाग ू
होंगे।
इस अजधसचू िा का प्रभाव: जवदेि व्यापार िीजत (एफटीपी) 2023 के पैरा 2.52 और 2.53 म ेंसंिोधि दकया गया ह ै तादक
भारतीय रुपय ेम ेंजियाात प्राजि के संबंध म ेंजियाता अिुबंधों के मूल्य-जिधारा ण और एफटीपी लाभों के जलए पात्रता स ेसंबंजधत
प्रावधािों को जवदेिी मुद्रा प्रबधं ि (प्राजि और भुगताि का तरीका) जवजियम, 2023 के साथ संरेजखत दकया िा सके।
इस े वाजणज्य एव ं उद्योग मंत्री की अिुमोदि स े िारी दकया िाता ह।ै
[फा. स.ं 01/93/180/32/एएम-19/पीसी.II(बी)/ई-17430]
लव अग्रवाल, महाजिदिे क जवदिे व्यापार एवं पदेि अपर सजचव4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
(DIRECTORATE GENERAL OF FOREIGN TRADE)
NOTIFICATION
New Delhi, the 20th August, 2026
No. 30/2026-27
Subject: Amendment in Para 2.52 and 2.53 of the Foreign Trade Policy (FTP) 2023 – Reg.
S.O. 4601(E).— In exercise of powers conferred by Section 3 and Section 5 of Foreign Trade
(Development &Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy 2023, as amended
from time to time, the Central Government hereby makes the following amendments relating to Para 2.52 and 2.53 of
the Foreign Trade Policy (FTP), 2023, with immediate effect:
Para No. Existing Para Revised Para
2.52: (a) All export contracts and invoices must be (a) All export contracts and invoices, other
Denomination denominated either in freely convertible currency than those involving member countries of the
of Export or Indian rupees, but export proceeds must be Asian Clearing Union (ACU), shall be
Contracts realized in freely convertible currency. denominated either in foreign currency or
Indian Rupees. Export proceeds shall be
realized either in any foreign currency or in
Indian Rupees.
(b) Export proceeds for specific exports may also (b) Export contracts involving member
be realized in rupees, provided: countries of the ACU, other than Nepal and
Bhutan, shall be denominated in a currency
It is through a freely convertible Vostro account determined by the ACU. However, such
of a non-resident bank located in a country other transactions may also be denominated and
than an ACU member, Nepal, or Bhutan. settled in accordance with the directions
Rupee payment via Vostro account must issued by the Reserve Bank of India from time
correspond to free foreign currency payment by to time.
the buyer in their non-resident bank account.
The free foreign exchange remitted by the buyer
to their non-resident bank (after deducting bank
service charges) will count as export realization
under FTP export promotion schemes.
(c) Export contracts involving Nepal and
(c) Contracts settled through the ACU must be
Bhutan shall be denominated and settled in
denominated in ACU Dollars, although
Indian Rupees, or in accordance with the
transactions may be settled in ACU Dollar or
directions issued by the Reserve Bank of India
ACU Euro per RBI notifications. The Central
from time to time. Further, export contracts
Government may relax these provisions when
and invoices under EXIM Bank/Government
appropriate. Export contracts and invoices can be
of India Lines of Credit may also be
denominated in Indian rupees under an EXIM
denominated in Indian Rupees.
Bank/Government of India line of credit.
(d) Invoicing, payment, and settlement of exports
and imports in INR are also permitted, subject to
compliance with RBI’s A.P. (DIR Series)
Circular No. 10, dated July 11, 2022. INR trade
transactions must follow these guidelines:
(i) Indian importers must pay in INR, credited
into the Special Vostro account of the
correspondent bank of the partner country,
against invoices for goods or services from the
overseas seller/supplier.
(ii) Indian exporters must receive export
proceeds in INR from balances in the designated
Special Vostro account of the correspondent
bank of the partner country.[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 5
2.53: i. Export proceeds realized in Indian Exports to any country, other than Nepal and
Applicability Rupees against exports to Iran are Bhutan, for which export proceeds are
of FTP permitted to avail exports benefits / realized in Indian Rupees through banking
Schemes for incentives/ fulfilment of Export channels by credit to Indian Rupee accounts
Export Obligations under the FTP, at par with of persons resident outside India, opened in
Realisations in export proceeds realized in freely accordance with the Foreign Exchange
Indian Rupees convertible currency, subject to Management (Deposit) Regulations, as
compliance of para 2.19 of the FTP. amended from time to time, shall be eligible
ii. Export proceeds realized in Indian for export benefits/incentives and fulfilment
Rupees as per para 2.52(d)(ii) are of Export Obligations under the FTP, at par
permitted to avail exports benefits / with exports realized in any foreign currency.
incentives / fulfilment of Export
Obligations under the FTP. In the case of exports to Iran, the above
provisions shall apply subject to compliance
with the provisions of para 2.19 of the FTP.
Effect of this Notification: Paras 2.52 and 2.53 of the Foreign Trade Policy (FTP) 2023 have been amended to align
the provisions relating to denomination of export contracts and eligibility for FTP benefits in respect of export
realisations in Indian Rupees with the Foreign Exchange Management (Manner of Receipt and Payment)
Regulations, 2023.
This is issued with the approval of the Minister of Commerce and Industry.
[F. No. 01/93/180/32/AM-19/PC.II(B)/E-17430]
LAV AGARWAL, Director General of Foreign Trade & Ex-officio Addl. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.