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Explain project exports in FEMA

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Uma asked over 2 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

These projects have occupied an important place in India's export portfolio. Regulation 18 of the Foreign Exchange Management (Export of Goods and Services) Regulation 2000 deals with project exports and provides that where the export of goods or services is proposed to be made on deferred payment terms or in execution of a turnkey project or a civil construction contract, the exporter shall before entering into any such export arrangement, submit the proposal for prior approval of the Working Group or the Exim Bank or Authorised deale4 as the case may be, which shall consider the proposal in accordance with the guidelines issued by Reserve Bank from time to time

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

Export of engineering goods on deferred payment terms including execution of turnkey projects and civil construction contracts abroad are collectively treated as project export. Project exports are broadly divided into three categories, i.e. Civil Engineering Construction Projects, Industrial Run Key Projects and Consultancy Services. Project exports are regarded as a key indicator of technological maturity and industrial capabilities of a country.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered over 2 years ago

**PROJECT EXPORTS IN FEMA** Export of engineering goods on deferred payment terms including execution of turnkey projects and civil construction contracts abroad are collectively treated as project export. Project exports are broadly divided into three categories, i.e. Civil Engineering Construction Projects, Industrial Run Key Projects and Consultancy Services. Project exports are regarded as a key indicator of technological maturity and industrial capabilities of a country. These projects have occupied an important place in India's export portfolio. Regulation 18 of the Foreign Exchange Management (Export of Goods and Services) Regulation 2000 deals with project exports and provides that where the export of goods or services is proposed to be made on deferred payment terms or in execution of a turnkey project or a civil construction contract, the exporter shall before entering into any such export arrangement, submit the proposal for prior approval of the Working Group or the Exim Bank or Authorised deale4 as the case may be, which shall consider the proposal in accordance with the guidelines issued by Reserve Bank from time to time Thanks

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