“Banking and financial institutions concerned are therefore encouraged to extend pre-shipment and post-shipment export credit and PCFC to e-commerce exports based on the extant guidelines issued by RBI,” per a trade notice issued by the DGFT.
Any issues in availing such export credit may be brought to attention by e-commerce exporters or banks to this Directorate, it further said.
In talks with stakeholders
In reference to the chapter in the new Foreign Trade Policy 2023 on promoting cross-border trade in digital economy, the DGFT held consultations 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,” the notice stated.
The DGFT then held consultations with the RBI where it was clarified that the ‘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 PCFC to all eligible exporters which does not preclude e-commerce exporters, it added.
