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of <h1>DGFT Circular Eases EXIM Policy Paragraph 11.7 for Exporters Using Indian Rupees Under Pre-2000 Letters of Credit.</h1> The circular from the Directorate General of Foreign Trade addresses exporters' concerns regarding paragraph 11.7 of the EXIM Policy, which involves exports against payment in Indian Rupees under irrevocable Letters of Credit established before January 28, 2000. It acknowledges the difficulties exporters face in achieving intrinsic value addition when goods are imported from the General Currency Area. To alleviate these issues, the circular permits exporters to proceed without insisting on intrinsic value addition, provided shipments occur within the original validity of the Letter of Credit. This decision is made in consideration of the policy's intent and exporters' challenges.
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