Project export approvals required for deferred payment, turnkey and civil construction contracts; prior clearance from EXIM Bank or authorised dealer. The amendment substitutes Regulation 18 to require that exports on deferred payment terms or executed as turnkey projects or civil construction contracts obtain prior approval before entering into any such export arrangement. Exporters must submit proposals to the approving authority, which will consider them per Reserve Bank of India guidelines. 'Approving authority' is defined as the EXIM Bank of India or the authorised dealer.