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Reserve Bank of India

In exercise of the powers conferred by Section 7, Section 8 and sub section (2) of section 47 of the Foreign Exchange Management Act, 1999

Issue Date: 14 November 2025 Published: 14 November 2025
Gazette ID: CG-MH-E-14112025-267667 Download PDF
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Core Purpose

The Reserve Bank of India issues the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025, to amend the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015.

Detailed Summary

The Reserve Bank of India (Foreign Exchange Department), exercising powers under Sections 7, 8, and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), has issued the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025. These regulations, notified as F. No. FEMA 23(R)/(7)/2025-RB and published on November 14, 2025, amend the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 (Notification No. FEMA 23(R)/2015-RB dated January 12, 2016, published as G.S.R.No.19(E)). Specifically, Regulation 9 is amended: in sub-regulation (1) and sub-regulation (2), clause (a), the words 'nine months' are substituted with 'fifteen months'. Furthermore, Regulation 15 is amended: in sub-regulation (1), clause (i), the proviso to sub-regulation (1), and sub-regulation (2), the words 'one year' are replaced with 'three years'. The regulations were issued from Mumbai on November 13, 2025, and signed by Rohit P. Das, Regional Director, coming into force from their publication date in the Official Gazette.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-MH-E-14112025-267667 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 735] NEW DELHI, FRIDAY, NOVEMBER 14, 2025/KARTIKA 23, 1947 RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 13th November, 2025 Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025 F. No. FEMA 23(R)/(7)/2025-RB.—In exercise of the powers conferred by Section 7, Section 8 and sub- section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 [Notification No. FEMA 23(R)/2015-RB dated January 12, 2016] (hereinafter referred to as 'the Principal Regulations'), namely: 1. Short Title and Commencement:- (i) These regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025 (ii) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment to Regulation 9:- In the principal regulations, in regulation 9 - (i) in sub-regulation (1) for the words ‘nine months', the words ‘fifteen months' shall be substituted. (ii) in sub-regulation (2), in clause (a) for the words ‘nine months', the words 'fifteen months' shall be substituted. 3. Amendment to Regulation 15:- In the principal regulations, in regulation 15 - (i) in sub-regulation (1), in clause (i) for the words 'one year', the words 'three years' shall be substituted. (ii) in proviso to sub-regulation (1), for the words 'one year', the words 'three years' shall be substituted. (iii) in sub-regulation (2), for the words 'one year', the words 'three years' shall be substituted. ROHIT P. DAS, Regional Director [ADVT.-III/4/Exty./471/2025-26] Foot Note: The Principal Regulations were Published in the Official Gazette of Government of India – Extraordinary Part-II, Section 3, Sub-Section (i) dated 12.01.2016- G.S.R.No.19(E) and subsequently amended vide the following, namely as under:- i. G.S.R.No. 635(E) dated 23.06.2017 ii. FEMA 23(R)/(2)/2019-RB dated December 03, 2019 iii. FEMA 23(R)/(3)/2020-RB dated March 31, 2020 iv. FEMA 23(R)/(4)/2021-RB dated January 08, 2021 v. FEMA 23(R)/(5)/2021-RB dated September 08, 2021 vi. FEMA 23(R)/(6)/2025-RB dated June 24, 2025 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. GORAKHA NATH YADAVA Digitally signed by GORAKHA NATH YADAVA Date: 2025.11.14 14:10:05 +05'30'

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