RBI Eases Export Regulations to Boost Trade Amid US Tariffs
The Reserve Bank of India introduced measures to aid exporters against US tariffs, including less paperwork and a longer repatriation period for export proceeds in foreign currency accounts. These steps aim to simplify compliance for smaller traders and adjust forex outlay rules to support trade profitability.
- Country:
- India
The Reserve Bank of India announced various measures on Wednesday aimed at aiding exporters in navigating the challenges imposed by a 50 percent tariff from the US on Indian goods.
Key steps include reducing paperwork and compliance burdens for small traders, and extending the repatriation period from foreign currency accounts from one to three months, as stated by RBI Governor Sanjay Malhotra.
The move to extend the forex outlay period for Merchant Trade Transactions from four to six months is designed to aid traders in maintaining efficiency and profitability amid these challenges.
(With inputs from agencies.)
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