RBI Governor meets exporters on FEMA, credit
RBI Governor Sanjay Malhotra met with representatives of various export organisations in Mumbai on June 25, 2026. Discussions focused on the Foreign Exchange Management Act (FEMA), export credit, and Letters of Credit.
FEMA, Credit, and Trade Procedures
Governor Sanjay Malhotra opened the meeting by acknowledging the significant contribution of Indian exporters to the nation's economic transformation.
He commended their resilience amidst an uncertain global trade environment and evolving geopolitical challenges, underscoring the importance of such engagements for informed policy formulation.
Discussions centered on the Foreign Exchange Management Act (FEMA), 1999, covering export-related regulations, export credit, Letters of Credit, and other procedural aspects.
Representatives from various Export Federations, Export Promotion Councils, and the Foreign Exchange Dealers' Association of India provided suggestions and feedback on policy and operational matters affecting the export sector.
The Reserve Bank of India committed to examining these inputs to further support and encourage the country's export activities.
High-level engagement for exporters
Deputy Governors Shri Swaminathan J., Dr. Poonam Gupta, and Shri Rohit Jain, along with other senior RBI officers, attended the meeting.
This high-level participation underscores the strategic importance the central bank places on the export sector's contribution to India's economic stability.
The Reserve Bank committed to thoroughly examining all suggestions and feedback received.
This review aims to identify and implement suitable measures to further support and encourage the export sector across the country, reinforcing its vital role in sustained economic growth.
Bridging policy and practice
This meeting represents a crucial step in aligning central bank policy with the operational realities of India's export sector.
The direct dialogue fosters transparency and responsiveness in regulatory frameworks, moving beyond mere announcements.
Such engagements are indispensable for ensuring India's trade policies remain agile and competitive in a volatile global economy.