Sriya Enterprise is among the select few firms in India with specialized expertise in EDPMS and IDPMS compliance. Our team has served as retained consultants for both national and multinational companies, providing end-to-end support in export and import data reconciliation and regulatory reporting. In addition to hands-on advisory, we have led numerous seminars and webinars—conducted both in-house for organizations and in collaboration with esteemed institutions such as FIRO DGTS, various Chambers of Commerce, and professional trade associations. This unique blend of practical experience and industry engagement positions us as a trusted knowledge partner for all aspects of EDPMS and IDPMS compliance and closure.
EDPMS (Export Data Processing and Monitoring System) and IDPMS (Import Data Processing and Monitoring System) are critical regulatory platforms instituted by the Reserve Bank of India (RBI) with the objective of digitizing and closely monitoring all export and import transactions conducted under India’s Foreign Exchange Management Act, 1999 (FEMA). These systems are integral for ensuring the lawful movement of foreign exchange, enhancing data transparency, and maintaining oversight of cross-border payments to and from India.
EDPMS is used to track the entire export cycle—from shipment of goods to the realization of export proceeds in foreign exchange. IDPMS, on the other hand, monitors import payments to ensure that goods for which foreign currency has been remitted are properly imported and accounted for. Both systems are interconnected with Indian Customs’ digital platforms, which automatically transmit shipping bills and bills of entry data to Authorized Dealer (AD) banks. AD banks are then responsible for reconciling these transactions end-to-end, flagging any mismatches or delays for remediation.
Closure of entries in EDPMS and IDPMS is not merely a formality—timely and accurate closure is a regulatory mandate under FEMA. Failure to close entries within prescribed timelines may lead to regulatory scrutiny, the imposition of penalties, or even restrictions on future foreign exchange transactions. Delays may occur due to reasons like incomplete shipment information, lack of documentation, mismatched figures between customs and banking records, or delayed communications between exporters/importers and their banks.
Consulting specialists in this domain ensures that organizations:
A FEMA consultant will set up robust compliance frameworks, perform periodic audits of outstanding entries, and proactively interact with banks and regulatory authorities on behalf of the business. They also train export/import teams in best practices for data reporting and document retention, minimizing the risk of non-compliance and facilitating smooth, penalty-free trade operations.
In today’s digitized trade ecosystem, an expert-led advisory for EDPMS and IDPMS closures is not just recommended—it is essential for sustainable and compliant international business.
