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 exporters, the Ministry of Commerce and Industry, Government of India, aims to streamline and enhance the efficiency of export transactions.

Empowering Exporters with Self-Certification

The focal point of this initiative lies in empowering exporters through self-certification, aligning with the commitment outlined in Para 1.07 of the Foreign Trade Policy. This new approach leverages electronic Inward Remittance Messages (IRMs) directly transmitted by banks to DGFT, allowing exporters to self-certify their eBRCs. This transition promises a more streamlined and efficient process, elevating transparency and accountability in the export ecosystem.

A Simplified Workflow for Enhanced Efficiency

The revamped eBRC system presents a streamlined workflow that significantly reduces transaction time and costs for exporters while alleviating the reconciliation process for financial institutions. Key highlights of the new workflow include:

• Banks transmitting IRM messages electronically to the DGFT IT system.
• IRMs specifically pertaining to Goods or Services Exports, excluding Capital Account transactions.
• Access to IRM details granted only to relevant IEC holders via the DGFT website, ensuring data privacy.
• Exporters creating eBRCs by aligning IRMs with shipping bills, SOFTEX, or invoice details, offering flexibility in grouping or splitting IRMs amongst multiple eBRCs.
• Generation of eBRCs for Goods Exports, Services Exports, and Deemed Exports.
• Utilization of RBI Purpose Codes and IRM fields for validation by exporters, with banks having access to created eBRCs for further examination if required.

Outreach, Awareness, and Support

To ensure stakeholders’ understanding and smooth adoption, DGFT will provide comprehensive user guides, FAQs, and organize Exporter Outreach Programs. Stakeholders are encouraged to explore the DGFT website for concordance of purpose codes, validation rules, and submit feedback to the dedicated email address.

Conclusion

The launch of the Upgraded eBRC system marks a pivotal moment in India’s export landscape, emphasizing efficiency, transparency, and ease of doing business.
This forward-thinking initiative reflects DGFT’s commitment to nurturing a robust and progressive trade ecosystem.