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The deemed export benefits for these projects would be subject to the conditions that in case OECF assistance for the 2nd/subsequent tranche does not materialize, respective project authority would fully reimburse all the deemed export benefits to the Government of India.
After issued of the said circular, References have been received, both from trade and the Ministry of Commerce, on the issue of furnishing of Bank Guarantee / Cash Deposit. It has been stated that the requirement of cash deposit or Bank Guarantee equal to 50% of the duty liability along with the Bond as security is not conductive to export growth of the Indian diamond industry
