Reserve Bank of India (RBI) has issued a new notification, FEMA 23(R)/(6)/2025-RB, amending the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015. Effective from its publication in the Official Gazette on June 24, 2025, these amendments, titled the Foreign Exchange Management (Export of Goods & Services) (Amendment) Regulations, 2025, introduce a specific inclusion in Regulation 4 of the principal regulations. A new sub-regulation (ca) has been inserted, which now covers “Tugs or Tug Boats, Dredgers and Vessels used for providing offshore support services, subject to their re-import into India.” This change, exercised under powers conferred by Sections 7 and 47 of the Foreign Exchange Management Act, 1999, broadens the scope of goods and services considered for export under these regulations, specifically addressing certain marine vessels. The principal regulations have been previously amended multiple times since their initial publication in 2016.
RESERVE BANK OF INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
Mumbai 400001
Notification No. FEMA 23(R)/(6)/2025-RB Dated: June 24, 2025
Foreign Exchange Management (Export of Goods & Services) (Amendment) Regulations, 2025
In exercise of the powers conferred by Section 7 and clause (b) of 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 & Services) (Amendment) Regulations, 2025
(ii) They shall come into force from the date of their publication in the Official Gazette.
2. In the principal regulations, in regulation 4, after sub-regulation (c) the following sub-regulation (ca) shall be inserted, namely:-
“ca). Tugs or Tug Boats, Dredgers and Vessels used for providing offshore support services, subject to their re-import into India”
(N Senthil Kumar)
Chief General Manager
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
