RBI Measures to Mitigate the Impact of Global Trade Disruptions on Indian Exports

A. FEMA Regulation on Realization and Repatriation of Export Proceeds
(Ref: FEMA23(R)(7)13.11.2025)

· Extended Realization Period:

o The period to realize and repatriate full value of exported goods, software, or services from India is extended from 9 months to 15 months from the date of export.

· Advance Payment Flexibility:

o The period permitted for shipment of goods (against advance payment from overseas buyers) is increased from 1 year to 3 years from the date of receipt of the advance or as per agreement, whichever is later.

B. RBI (Trade Relief Measures) Directions, 2025
(Ref: RBI Trade Relief Measures 2025)

· Easing Debt Repayment Burden (for Affected Sectors):

o Moratorium/Deferment: Moratorium or deferment permitted on all term loan payments and recovery of interest on working capital loans falling due between September 1, 2025, and December 31, 2025.

o Working Capital Relief: Lenders are allowed to recalculate ‘drawing power’ in working capital facilities, either by reducing the margin or reassessing, during this period.

· Relaxation for Export Credit Repayment:

o Credit Period Extension: The maximum period for pre-shipment and post-shipment export credit (for loans disbursed until March 31, 2026) is extended to 450 days (from 1 year previously).

o Flexibility in Liquidating Packing Credit: Exporters granted packing credit on or before August 31, 2025, who cannot dispatch goods, are permitted to liquidate these credits from:

§ Any legitimate alternate source, including domestic sale proceeds of such goods,

§ Or by substituting with proceeds from another export order.

· Immediate Effect:

o These guidelines are effective immediately.

Summary Table

*Measure*	*Previous Rule*	*Revised Rule*
Realization & repatriation	9 months	15 months
Shipment after advance payment	1 year	3 years
Moratorium period	Not specified	Sep 1–Dec 31, 2025
Export credit repayment	1 year	450 days
Packing credit repayment	Only export	Domestic sale or substitution

Purpose:
These measures are meant to support exporters impacted by global headwinds, allow flexible loan repayments, and give additional time for fulfilling export obligations under current tough conditions.

RBI Trade Relief Measures

[RBI Press Release/14 November, 2025]

Reserve Bank has taken the following measures with a view to mitigate the impact of trade disruptions on exports arising on account of global headwinds.

A. FEMA Regulation on realization and repatriation of proceeds of export of goods/ software/ services and advance payment against exports

i. Extension in the time period for realisation and repatriation of full export value of goods/software/services exported from India from nine months to fifteen months from the date of export from India;

ii. Increase in the time period for shipment of goods from one year to three years from the date of receipt of advance payment or as per agreement, whichever is later.

B. Reserve Bank of India (Trade Relief Measures) Directions, 2025

(i) Easing the burden on debt repayments on specific impacted sectors:

Moratorium on/ deferment of payment of all of term loans and recovery of interest on working capital loans, as applicable, falling due between September 1, 2025, and December 31, 2025.
Permission to lenders to recalculate ‘drawing power’ in working capital facilities either by reducing the margins or basis reassessment, during the above period.

(ii) Relaxation in the repayment of export credit

Enhancement in maximum credit period from one year to 450 days for pre-shipment and post-shipment export credit disbursed till March 31, 2026.
Allowing lenders to liquidate packing credit facilities availed by exporters on or before August 31, 2025, where dispatch of goods could not take place, from any legitimate alternate sources, including domestic sale proceeds of such goods or substitution of contract with proceeds of another export order.

The guidelines will come into force with immediate effect.