Payment of Freight in Foreign Currency by Indian Exporters/Importers to Airline/ Shipping Companies or their Agents in India

Indian exporters/importers are permitted to make payment of freight in respect of exports/imports from/into India in foreign currency to airline/shipping companies operating in India. Authorised dealers may sell foreign exchange to Indian exporters/importers on verification of the relative Airway Bill/Bill of Lading. Such sales should be reported to Reserve Bank on form A2 together with copies of the relative Airway Bill/Bill of Lading.