The Directorate General of Foreign Trade (DGFT) vide Trade Notice 33/2023-24 has embarked on a groundbreaking initiative to transform and modernize the export certification process. With the launch of the Upgraded Electronic Bank Realization Certificate (eBRC) system for self-certification by…
A very simple yet very important part of the Cross border transaction – Purpose code Purpose codes are codes issued by the Reserve Bank of India that are required for successful cross-border transactions (International Trade). RBI has issued about 188…
RBI's Proposed Easier Write-off Norms: A Boost for Exporters Facing ED Notices In a recent development, the Reserve Bank of India (RBI) has advocated for more relaxed write-off norms, specifically in light of the Enforcement Directorate's (ED) notices issued to…
Due to the Russian invasion of Ukraine, European Union has prohibited global transactions with Russian entities using euro-denominated banknotes, while the U.S.A. has also stopped access to the U.S. Dollar. This made India, which continues to trade with Russia, consider reviving…
Exporter and Importer from India entered in arrangement where the goods were shipped to (or received from) the UAE and payments are received (or made) to UAE companies. Such a strategy has been put in place by many Indian companies…
We (Sriya Enterprise) are happy to be part of Capacity Building Programme: Awareness Programme on Exports India@75 - District As Export Hub at Vadodara in association of FIEO @ Surya Palace for delivering session on Trade Compliance under RBI guidelines
Session on Regulation with EDPMS and IDPMS with the Industry in association with Princeton Academy at Mumbai. This session was enlightening, as the issues faced by the industry with various operational issues in compliance with InternationalTrade RBI regulation. The reason…
As per Indian figures, bilateral trade during April 2020-March 2021 amounted USD 8.1 billion. Indian exports amounted USD 2.6 billion while imports from Russia amounted USD 5.48 billion. For the same period, as per Russian figures, bilateral trade amounted to…
