On June 7, Reserve Bank of India (RBI) Governor Shaktikanta Das suggested streamlining the regulations concerning the import and export of goods and services under the Foreign Exchange Management Act (FEMA) 1999.
Das stated, “The proposal aims to rationalize the existing FEMA guidelines governing the export and import of goods and services.” He emphasized that this initiative aligns with the evolving dynamics of international trade and reflects the gradual liberalization of foreign exchange regulations.
