Advancement of Realization of export proceeds period from 9 to 6 months

No. CEPC/SEC/AdvExRealz(C-9)/2013-14                     18th Sept 2013

To -      All Members of the Council.

 

Sub. Advancement of Realization of export proceeds period from 9 to 6 months

 

Dear Member Exporters,

 

President,  FIEO recently had a meeting with the Finance Minister wherein one of the concerns raised by the Hon’ble Finance Minister was to look at the possibilities of compressing time period of realization of export proceeds so as to augment supply of US Dollar with a view to stabilize the value of Rupee. 

 

It was informed that repatriation period has already been reduced from 12 months to 9 months.  

 

In view of this background, I would like to request all fellow member-exporters of this Council to ensure that realization of export proceeds should takes place as early as possible.  Please also pursue with your buyers to expedite the same so that our endeavour helps in stabilizing the Rupee to help the nation.