India’s export industry has sought changes to the revised Foreign Exchange Management Act (FEMA) regulations scheduled to take effect later this year, flagging multiple operational challenges that they believe could disrupt trade and tighten liquidity at a time when global demand remains uncertain, The Times of India reported on June 27.
The concerns were raised during a meeting between Reserve Bank of India (RBI) Governor Sanjay Malhotra and representatives of export promotion bodies on Thursday.
