<h1>Amended EPCG Scheme: Export proceeds must be in convertible currency, except for deemed exports under Paragraph 5.7.2.</h1> The Export Promotion Capital Goods (EPCG) Scheme, outlined in Chapter 5 of the Handbook of Procedures Volume-II, details the conditions for fulfilling export obligations and earning foreign exchange. As per the amended Paragraph 5.7.2, effective from January 1, 2008, export proceeds must be realized in freely convertible currency, except for deemed exports. Exports to Special Economic Zone (SEZ) units and supplies to developers or co-developers will count towards meeting export obligations, regardless of the currency in which they are realized.