Foreign Currency Accounts by Resident Individuals: Fifth Amendment
A new sub-regulation (CA) under Regulation 5 now permits Indian exporters to open, hold, and maintain Foreign Currency Accounts with banks outside India. This allows for greater control over their foreign exchange earnings and simplifies certain transactions.
Foreign Exchange Management (Deposit) (Fifth Amendment) Regulations, 2025
Authorised dealers in India and their branches abroad can now extend services, broadening their operational reach. Transfer of funds between repatriable Rupee accounts is now permitted for all legitimate transactions.
India Launches Diamond Imprest Authorization Scheme to Revitalize Diamond Sector
The Department of Commerce and Industry has introduced the Diamond Imprest Authorization (DIA) Scheme, effective April 1, 2025, to boost the global competitiveness of India’s diamond industry. The scheme aims to streamline duty-free imports of small diamonds, promote value addition, and boost exports, particularly benefiting MSME exporters.
India’s Digital Health Revolution Gains Global Recognition
India’s healthcare system is undergoing a rapid digital transformation, driven by government initiatives and technological advancements. This transformation is gaining international attention, with the World Economic Forum (WEF) recently highlighting India’s potential to become a global leader in digital health.
