**Policy Summary: Foreign Exchange Management (Export of Goods and Services) Amendment Regulations, 2025**
This notification, designated No. FEMA 23R/62025-RB, issued on June 24, 2025, by the Reserve Bank of India, amends the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 (Notification No. FEMA 23R/2015-RB dated January 12, 2016). The amendment, enacted under the powers conferred by Section 7 and clause (b) of subsection (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), introduces a new sub-regulation (ca) to regulation 4. This new sub-regulation pertains to the export of "Tugs or Tug Boats, Dredgers and Vessels used for providing offshore support services, subject to their re-import into India." The regulations take effect from the date of their publication in the Official Gazette. The notification is issued by N. Senthil Kumar, Chief General Manager, Reserve Bank of India. The Principal Regulations were initially published on January 12, 2016, vide G.S.R. No. 19(E) and have been subsequently amended on June 23, 2017, December 03, 2019, March 31, 2020, January 08, 2021 and September 08, 2021.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the foreign exchange market.
Foreign Exchange Management Act, 1999: An act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
Foreign Exchange Management Export of Goods Services Regulations, 2015: Regulations pertaining to the export of goods and services under the Foreign Exchange Management Act.
Foreign Exchange Management Export of Goods Services Amendment Regulations, 2025: Amendments to the 2015 regulations concerning the export of goods and services.
Mumbai, Maharashtra: The location of the Central Office of the Reserve Bank of India.
N Senthil Kumar: Chief General Manager at Reserve Bank of India
Official Gazette: Official government publication where notifications and regulations are published.
India: The country to which the policy and regulations apply.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART III, SECTION 4]
RESERVE BANK OF INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
Mumbai 400001
Notification No. FEMA 23(R)/(6)/2025-RB June 24, 2025
Foreign Exchange Management (Export of Goods & Services) (Amendment) Regulations, 2025
In exercise of the powers conferred by Section 7 and clause (b) of sub-section (2) of section 47 of the Foreign Exchange
Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign
Exchange Management (Export of Goods & Services) Regulations, 2015 [Notification No. FEMA 23(R)/2015-RB
dated January 12, 2016] (hereinafter referred to as 'the Principal Regulations'), namely:
1. Short Title and Commencement:-
(i) These regulations may be called the Foreign Exchange Management (Export of Goods & Services) (Amendment)
Regulations, 2025
(ii) They shall come into force from the date of their publication in the Official Gazette.
2. In the principal regulations, in regulation 4, after sub-regulation (c) the following sub-regulation (ca) shall
be inserted, namely:-
“ca). Tugs or Tug Boats, Dredgers and Vessels used for providing offshore support services, subject to their re-import
into India"
(N Senthil Kumar)
Chief General Manager
Foot Note: The Principal Regulations were Published in the Official Gazette of Government of India – Extraordinary
– Part-II, Section 3, Sub-Section (i) dated 12.01.2016- G.S.R.No.19(E) and subsequently amended vide the following,
namely as under: -
i. G.S.R.No. 635(E) dated 23.06.2017
ii. FEMA 23(R)/(2)/2019-RB dated December 03, 2019
iii. FEMA 23(R)/(3)/2020-RB dated March 31, 2020
iv. FEMA 23(R)/(4)/2021-RB dated January 08, 2021
v. FEMA 23(R)/(5)/2021-RB dated September 08, 2021