Line of Credit support for export-financed infrastructure with Indian sourcing requirement and export declaration compliance. A Government-supported Line of Credit finances export of eligible goods and services for a specified infrastructure project, requiring at least 65 per cent of contract value to be supplied from India and allowing the remainder to be procured abroad. Shipments must be declared in the Export Declaration Form. No agency commission is payable from LOC funds; exporters may use their own resources or Exchange Earners' foreign currency balances to pay commission after realisation of export proceeds, subject to existing remittance rules. Category I authorised dealer banks must notify exporters and facilitate compliance with these directions issued under foreign exchange directions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Line of Credit support for export-financed infrastructure with Indian sourcing requirement and export declaration compliance.
A Government-supported Line of Credit finances export of eligible goods and services for a specified infrastructure project, requiring at least 65 per cent of contract value to be supplied from India and allowing the remainder to be procured abroad. Shipments must be declared in the Export Declaration Form. No agency commission is payable from LOC funds; exporters may use their own resources or Exchange Earners' foreign currency balances to pay commission after realisation of export proceeds, subject to existing remittance rules. Category I authorised dealer banks must notify exporters and facilitate compliance with these directions issued under foreign exchange directions.
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