RBI has notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations 2026, replacing the 2015 export regulations and consolidating the framework for both exports and imports of goods and services. The regulations, to come into force on 1st October 2026. These prescribe detailed rules on declarations, receipt and payment mechanisms, timelines for realisation and repatriation of export proceeds, and payment for imports. They introduce uniform Export Declaration Form (EDF) requirements for goods and services, empower Authorised Dealers to monitor, extend timelines, allow reductions, set-offs, and third-party payments, and mandate strict reporting through EDPMS, IDPMS and FETERS. They also lay down conditions for advance payments, unrealised exports, merchanting trade transactions, project exports, INR trade settlement, and internal policies of Authorised Dealers.