Governor, Reserve Bank of India, Sanjay Malhotra yesterday met in Mumbai with representatives of various Export Federations, Export Promotion Councils, Export Committee of Confederation of Indian Industry and Foreign Exchange Dealers' Association of India. In his address, the Governor highlighted significant contribution of exporters to India's economic transformation and commended their resilience amid an uncertain global trade environment and evolving geopolitical challenges. He underscored the importance of such engagements in understanding stakeholder concerns and facilitating informed policy formulation.
The discussions during the meeting covered matters related to Foreign Exchange Management Act (FEMA), 1999, including export-related regulations, export credit, Letters of Credit, and other procedural aspects. Participants shared their suggestions and feedback on policy and operational matters affecting the export sector. Reserve Bank would examine the suggestions and feedback received suitably to further support and encourage the export sector in the country.
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