The Reserve Bank of India (RBI) has recently issued the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, following a comprehensive review of the existing regulations and directions governing export and import of goods and services, under FEMA, 1999, in consultation with stakeholders. Earlier, exports and imports were governed under separate FEMA regulations, supported by Master Directions and circulars. The new regulations are intended to promote ease of doing business, particularly for small exporters and importers, and will come into force from 1 October 2026.
