Export to Iran under Para 2.35 (b) of Foreign Trade Policy, 2009-2014. - 79 (RE

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<h1>India Updates Foreign Trade Policy: Export to Iran in Rupees with Conditions; Exempts Some Goods from Value Addition.</h1> The Government of India has modified paragraph 2.35(b) of the Foreign Trade Policy 2009-2014 to allow exports to Iran under specific conditions. Goods imported against payment in freely convertible currency can now be exported to Iran with payment in Indian Rupees, provided there is at least 15% value addition. However, re-exports of food, medicine, and medical equipment are exempt from this value addition requirement, covering specific ITC(HS) codes. Bird's eggs and rice are excluded from this dispensation, and exports under this scheme are not eligible for export incentives.

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