Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 22
October 24, 2000 

All Authorised Dealers
in Foreign Exchange

Dear Sirs,

EXPORT OF HAND KNOTTED CARPETS


Attention of Authorized Dealers is invited to the instructions contained in para-6(a), Chapter XII of the Foreign Exchange Manual (7th Edition-1992) in terms of which Authorized Dealers are permitted to certify Form “E” for export of Carpets on 180 days basis if term of sale/irrevocable L/C provides for payment on 180 days usance. It has been decided that henceforth Authorized Dealers may certify Form “E” for export of “Hand Knotted Carpets” for a tenure of upto 270 days usance provided export proceeds are repatriated within a period of 285 days.

2. Consequently, following amendments in the said paragraph may be made :-

i) The words and figures appearing in the 10th line “180 days usance in case of carpets” shall be substituted by figure and words “270 days usance in case of Hand Knotted Carpets”.
ii) The figure “195” appearing in the 12th line be substituted by figure “285”.

3. Please bring the above to the notice of your constituents.

Yours faithfully,
-Sd-(M. R. MEHKARI)
Director
       
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