RBI Governor Meets Export Bodies On FEMA, Trade Finance Issues

New Delhi, Jun 26 (KNN) Reserve Bank of India (RBI) Governor Sanjay Malhotra on Thursday met representatives of export federations, export promotion councils, the Export Committee of the Confederation of Indian Industry (CII) and the Foreign Exchange Dealers' Association of India (FEDAI) to discuss issues concerning the country's export sector.
 
The meeting was attended by RBI Deputy Governors Swaminathan J., Poonam Gupta and Rohit Jain, along with senior officials of the central bank.
 
RBI Commends Exporters' Resilience 
 
Addressing the participants, Malhotra highlighted the significant contribution of exporters to India's economic growth and commended the sector's resilience amid an uncertain global trade environment and evolving geopolitical challenges.
 
He emphasised the importance of regular stakeholder consultations to better understand industry concerns and support informed policy formulation.
 
Discussions Focus on FEMA and Export Finance 
 
The discussions focused on issues related to the Foreign Exchange Management Act (FEMA), 1999, including export-related regulations, export credit, Letters of Credit and other procedural aspects affecting exporters.
 
Representatives of export bodies shared suggestions and feedback on policy and operational issues impacting the sector.
 
The RBI said it will examine the suggestions and feedback received during the meeting to further strengthen policy support and facilitate the growth of India's export sector.
 
(KNN Bureau)