Reserve Bank of India Governor Sanjay Malhotra met representatives of export organisations in Mumbai on Thursday, June 25, 2026, to discuss issues affecting India’s export sector.
According to an RBI press release, the meeting brought together representatives from various Export Federations, Export Promotion Councils, the Export Committee of the Confederation of Indian Industry and the Foreign Exchange Dealers’ Association of India. Deputy Governors Swaminathan J., Dr. Poonam Gupta and Rohit Jain also attended, along with other senior RBI officers.
The RBI described the meeting as part of its engagement with stakeholders connected to exports and foreign exchange. Exporters and industry representatives used the interaction to share suggestions and feedback on policy as well as operational matters.
Export sector concerns discussed
The discussions focused on issues linked to the Foreign Exchange Management Act, 1999, export-related regulations, export credit, Letters of Credit and procedural matters. These areas are important for exporters because they affect how export payments, documentation, credit support and foreign exchange transactions are handled.
The Foreign Exchange Management Act, 1999, commonly called FEMA, is the main legal framework governing foreign exchange transactions in India. For exporters, FEMA-related rules can affect the receipt of export proceeds, reporting requirements and compliance processes connected with cross-border trade.
Export credit was another subject identified by the RBI. Export credit generally refers to bank finance provided to exporters before or after shipment, helping businesses meet working capital needs, produce goods for overseas buyers and manage payment cycles. The RBI release did not mention any specific change in export credit norms after the meeting.
Letters of Credit were also discussed. A Letter of Credit is a banking arrangement used in trade finance in which a bank gives an assurance of payment, subject to the exporter meeting the required terms and submitting the specified documents. Such instruments are widely used in international trade because buyers and sellers may be located in different jurisdictions and may not know each other directly.
No immediate policy decision announced
The RBI said exporters and industry representatives shared suggestions and feedback during the meeting. However, the press release did not list individual suggestions, identify sector-wise demands or announce any immediate policy decision.
The central bank said it would examine the suggestions and feedback received during the meeting suitably. It linked this review to the aim of supporting and encouraging the export sector in the country.
Governor refers to exporters’ role
In his address, Governor Malhotra referred to the contribution of exporters to India’s economic transformation. He also noted the resilience of exporters at a time when global trade conditions remain uncertain and geopolitical developments continue to affect business conditions.
The Governor said such interactions help the RBI understand stakeholder concerns and support better-informed policy work, according to the press release. The statement indicates that the central bank is using industry feedback to assess practical issues faced by exporters in complying with rules and accessing financial services.
Participants and issues named by RBI
The organisations represented at the meeting included export federations, export promotion councils, CII’s Export Committee and the Foreign Exchange Dealers’ Association of India. Their presence reflected the discussion’s focus on both exporter concerns and banking or foreign exchange processes.
The RBI identified the following areas as part of the discussion:
- Matters related to the Foreign Exchange Management Act, 1999.
- Export-related regulations and procedures.
- Export credit issues.
- Letters of Credit.
- Policy and operational concerns affecting exporters.
The press release was issued by Brij Raj, Chief General Manager, under Press Release number 2026-2027/546.
Source: Reserve Bank of India Press Releases.
