2.32

Export of Gifts 

Goods, including edible items, of value not exceeding Rs.5,00,000 /- in a licensing year, may be exported as a gift.

However, items mentioned as restricted for exports in ITC (HS) shall not be exported as a gift, without an Authorisation. Export of Spares 2.33 Warranty spares (whether indigenous or imported) of plant, equipment, machinery, automobiles or any other goods, (except those restricted under ITC (HS)) may be exported along with main equipment or subsequently but within contracted warranty period of such goods subject to approval of RBI.