Pre-shipment and Post-shipment Export Credit and Packing Credit in Foreign Currency (PCFC) for E-Commerce Exports -reg

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Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Dated: 4th September 2023 Vanijya Bhawan, New Delhi Trade Notice No. 26/2023-24 To 1. All E-Commerce Exporters 2. Members of Trade & Industry 3. Banking and Financial institutions concerned. Subject: Pre-shipment and Post-shipment Export Credit and Packing Credit in Foreign Currency (PCFC) for E-Commerce Exports -reg Reference Chapter 9 of the new Foreign Trade Policy 2023 on ‘Promoting Cross Border Trade in Digital Economy’, it is submitted that consultations were held with industry representatives, exporters, and nodal departments on outstanding issues pertaining to exports through E-Commerce. One issue flagged was the unavailability of Pre-shipment and Post-shipment export credit for E-Commerce exports. In this regard, consultations were held with RBI. 2. Reference the said consultation with RBI, it is clarified that “Master Circular- Rupee / Foreign Currency Export Credit and Customer Service to Exporters” furnishes a comprehensive framework, allowing for access to Pre-shipment and Post-shipment export credit and Packing Credit in Foreign Currency (PCFC) to all eligible exporters which does not preclude E-Commerce Exporters. 3. Banking and financial institutions concerned are therefore encouraged to extend Pre-shipment and Post-shipment Export Credit and Packing Credit Loan in Foreign Currency (PCFC) to E-Commerce exports based on the extant guidelines issued by RBI. Any issues in availing such Export Credit may be brought to attention by E-Commerce Exporters or banks to this Directorate. This issues with approval of the Competent Authority. (Md. Moin Afaque) Deputy Director General of Foreign Trade E-mail: afaque[dot]moin[at]gov[dot]in [File No. 01/94/180/307/AM20/PC-4/E-20480] MD MOIN AFAQUE Digitally signed by MD MOIN AFAQUE Date: 2023.09.04 11:51:52 +05'30'