RBI Enables Seamless Export Transactions for Indian Traders in UAE Warehouses Under FEMA Sections 10(4) and 11(1)

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....RBI issued a circular providing regulatory relaxations for exports through warehouses in 'Bharat Mart' in UAE. The circular allows authorized dealer banks to permit exporters with valid Importer Exporter Code to: (a) realize and repatriate full export value within nine months from warehouse sale date, (b) open/hire warehouses in UAE, and (c) make remittances for initial and recurring business expenses without preconditions. These instructions are implemented immediately under FEMA 1999 sections 10(4) and 11(1), facilitating Indian traders' access to UAE and global markets through a multimodal logistics network marketplace.....