The Reserve Bank of India has issued the Foreign Exchange Management (Export and Import of Goods and Services) (Amendment) Regulations, 2026, effective September 22, 2026. The amendments update compliance requirements and procedures under FEMA, 1999, for cross-border trade in goods and services.
RBI Updates Export-Import Framework under FEMA
The Reserve Bank of India (RBI) issued the Foreign Exchange Management (Export and Import of Goods and Services) (Amendment) Regulations, 2026 on September 22, 2026, exercising powers under Sections 7, 8, 10(6), and 47(2) of the Foreign Exchange Management Act, 1999 (FEMA). These amendments revise the regulatory framework governing export and import transactions, focusing on procedural streamlining, compliance timelines, and documentation standards for authorized entities.
The notification amends existing norms related to the declaration, monitoring, and reporting of export and import of goods and services. Key changes include enhanced timelines for realization of export proceeds, adjustments in permissible methods of payment for cross-border services, and clarification on end-use certification for certain high-value imports. The amendments aim to strengthen compliance with foreign exchange obligations while facilitating legitimate trade.
Practitioners should review the updated timelines and documentation requirements for clients engaged in cross-border transactions. The changes reinforce RBI’s focus on tightening external sector reporting and ensuring alignment with international trade practices. The full text of the notification is available under FEMA 23(R)/(1)/2026-RB.
Citations
- FEMA (Export and Import of Goods and Services) (Amendment) Regulations, 2026, Notification No. FEMA 23(R)/(1)/2026-RB