External commercial borrowings eligibility expanded to NMIZ developers, enabling approval-route ECB for infrastructure projects immediately. Developers of NMIZ are permitted to avail of External Commercial Borrowings under the approval route to provide specified infrastructure within NMIZ, matching the extant ECB scope (power, telecom, railways, roads, ports, airports, industrial parks, urban infrastructure, mining/refining/exploration, cold storage). The change is effective immediately; other ECB parameters (recognised lenders, maturity, all-in-cost, prepayment, refinancing and reporting) remain unchanged and the directions are issued under the Foreign Exchange Management Act, 1999.
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Provisions expressly mentioned in the judgment/order text.
External commercial borrowings eligibility expanded to NMIZ developers, enabling approval-route ECB for infrastructure projects immediately.
Developers of NMIZ are permitted to avail of External Commercial Borrowings under the approval route to provide specified infrastructure within NMIZ, matching the extant ECB scope (power, telecom, railways, roads, ports, airports, industrial parks, urban infrastructure, mining/refining/exploration, cold storage). The change is effective immediately; other ECB parameters (recognised lenders, maturity, all-in-cost, prepayment, refinancing and reporting) remain unchanged and the directions are issued under the Foreign Exchange Management Act, 1999.
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