Unified Fema to cover export, import of goods and services

The central bank has eased import-export compliance for smaller exporters

- Dhirendra Kumar

Fema Regulations, 2026, notified on 13 January and set to come into force after nine months in October 2026, supersede the 2015 export regulations.

(BLOOMBERG)

The Reserve Bank of India has brought exports and imports of goods and services under a unified regulation to simplify procedures, ease compliance for smaller exporters and toughen monitoring through digital systems.

The new Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (Fema), notified on 13 January and set to come into force after nine months in October 2026, supersede the 2015 export regulations. The RBI released the order on Friday.

The overhaul follows two rounds of public consultation and nearly two years of deliberation. Given the well-developed foreign trade policy, customs laws and other sector-specific rules, the RBI has now placed greater responsibility on authorised dealer banks to manage day-to-day trade-related matters based on their internal policies and assessment of bona fides of each transaction, according to experts.