Foreign Exchange Management (Export of Goods & Services) (Second Amendment) Regulations, 2014

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....) (Second Amendment) Regulations, 2014 G.S.R. 434(E).--In exercise of the powers conferred by clause (a) of sub-section (1), sub-section (3) of Section 7 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No. FEMA. 23/2000-RB dated May 3, 2000 as amended from time to time, Reserve Bank of India makes the foll....

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....8." Project exports Where an export of goods or services is proposed to be made on deferred payment terms or in execution of a turnkey project or a civil construction contract, the exporter shall, before entering into any such export arrangement, submit the proposal for prior approval of the approving authority, which shall consider the proposal in accordance with the guidelines issued by the Res....