RBI Notifies FEM Export and Import Regulations, 2026

Notification no. FEMA 23(R)/2026-RB; dated: 13.01.2026

The RBI has notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026. The Regulations lay down norms relating to declaration of exports, the manner of receipt and payment, the time period for realization of exports, & set-off of export receivables against import payables. Further, it prescribes norms relating to the time period for making import payments, the import of gold and silver, & merchanting trade transactions. These regulations shall come into force w.e.f October 1, 2026.

The key provisions of the regulations include the following:

1. Declaration of Exports

An exporter of goods must furnish to the specified authority a declaration in the Export Declaration Form (EDF), specifying the amount representing the full export value of the goods at the time of export.
Where goods are exported through an Electronic Data Interchange (EDI) port, the Export Declaration Form (EDF) shall be deemed to have been submitted as part of the shipping bill.

Further, a traveller carrying personal effects, whether accompanied or unaccompanied, from India shall not be treated as an exporter for the purposes of these Regulations.

1.1 Time Limit for furnishing of Export Declaration Form to the specified authority

An exporter of services must furnish to the specified authority a declaration in the Export Declaration Form (EDF), specifying the amount representing the full export value of services, within 30 days from the end of the month in which the invoice for services is raised, subject to the following conditions:

(a) The exporter of services who has exported services to one or more recipients a month may submit a single EDF for all such exports.
(b) The exporter of services other than software may submit an EDF on or before the date of receipt of payment;
(c) The Authorised Dealer may, on a request from the exporter citing reasons for delay, extend the period for submission of EDF after satisfying itself about the reasonableness of the request.
(d) In the case of a non-EDI port for export of goods, or where the specified authority for export of services is other than an Authorised Dealer, the duly authenticated EDF must be forwarded by the specified authority to the respective Authorised Dealer.

2. Manner of Receipt and Payment

The receipts and payments for export and import of goods and services must be in the manner specified in the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, as amended from time to time.

2.1 Authorised Dealer must make credit or debit to account of exporter/importer only after verifying genuineness

An authorised dealer must make a credit or debit to the account of an exporter or an importer for receipt of export proceeds or payments for import only after satisfying itself about genuineness of the transaction. Further, the AD must simultaneously close or update the relevant entry in the Export Data Processing and Monitoring System (EDPMS) or the Import Data Processing and Monitoring System (IDPMS).

3. Time Period for realisation of export proceeds

Under the extant norms, it is obligatory on the part of the exporter to realise and repatriate the full value of goods/software/services to India within 15 months from the date of export.
Under these Regulations, the amount representing the full export value (or reduced export value) of goods and services must be realised and repatriated by the exporter within the period as specified below:

(a) 15 months from the date of shipment in case of goods (other than goods exported to a warehouse outside India) and from the date of invoice in case of services;
(b) 15 months from the date of sale of goods from the warehouse in case of goods exported to a warehouse outside India;
(c) As per the payment terms of the contract, in case of project exports

Click Here To Read The Full Notification