Govt allows exports of imported products to Iran against rupee - TopicsExpress

Govt allows exports of imported products to Iran against rupee payment Delhi : India has allowed export of imported products to sanction-hit Iran under the rupee payment mechanism provided 15 per cent value addition takes place in the country.The move is aimed at fuller utilisation of the rupee payments accumulated in India’s UCO Bank for oil purchased from Iran.“Exports of such goods to Iran which have been imported against payment in freely convertible currency would be permitted against payment in Indian Rupees also, subject to at least 15 per cent value addition,” a notification by the Directorate General of Foreign Trade said.

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