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Required prior approval before export in certain Exports - FEMA Ready Reckoner - FEMAExtract Required prior approval before export in certain Exports According to section 7 of FEMA, Act read with Regulation 13 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 . (i) Export of goods under trade agreement or rupee credit Export of goods under special arrangement between the Central Government and Government of a foreign state, or under rupee credits extended by the Central Government to Govt. of a foreign state shall be governed by the terms and conditions set out in the relative public notices issued by the Trade Control Authority in India and the instructions issued from time to time by the Reserve Bank. (ii) Export under the line credit An export u nder the line of credit extended to a bank or a financial institution operating in a foreign state by the Exim Bank for financing exports from India, shall be governed by the terms and conditions advised by the Reserve Bank to the authorised dealers from time to time.
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