With a view to provide Indian Exporters longer repatriation period for venturing into new emerging
markets, Reserve Bank of India has allowed a period of 360 days (in place of existing 6 months) for realization and
repatriation of export proceeds from the countries included in the circular issued by Reserve Bank of India. This temporary
measure effective from 1st September, 2001 was initially for a period of one year which was extended earlier by Reserve Bank
of India vide their Circular dated 20th August, 2002 up to 31st August, 2003. In response to the demands of the trade and
industry for longer repatriation period to the specified countries, Reserve Bank of India vide its Circular No. 12 dated 20th
August, 2003 (
click here) has extended the facility up to 31st August, 2004.
With this, exports made to 43 notified countries as given in the above circular are entitled for 360 days (from the date of
shipment) for realization and repatriation of full value of the goods/softwares.
