NTF. NO. 32/1997, DT. 31/12/1997
SIL - SIL on Realisation of Export Proceeds, EH, Etc, Export in India rupees will be considered for recognition
In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No.22 of 1992) read with paragraph 1.3 of the Export and Import Policy,1997-2002 published in the Gazette of India extraordinary, Part-I'-Section 3-Sub-section (ii) vide S.O. No. 283(E) dated31.3.97, the Central Government hereby makes following amendments In the Export and Import Policy, 1997-2002:
1. The following shall be added at the end of paragraph 11.12
'Such Special Import Licence shall be granted only where exports proceeds have been realised in free foreign exchange.
2. The following shall be added at the end of paragraph 12.3:
‘The exports made, both in free foreign exchange and in Indian rupees, shall be taken into account for the purpose of recognition.’
Sd/-
(N.L. Lakhanpal)
Director General of Foreign Trade
And Ex-Officio
Additional Secretary to the Government of India
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