Exporters who import goods and ship them to Iran after value-addition will not be required to produce ‘goods of Indian origin’ certificate for making rupee payments, the Commerce Ministry has decided.
It has directed UCO Bank, entrusted with handling rupee payment to Indian exporters to Iran, not to insist on the ‘Goods of Indian Origin’ certificate.
“The Department of Commerce holds the view that it is not necessary to examine ‘origin of goods’ as long as the exports are permissible by the export regime of the Government of India,” Commerce Ministry said in a letter to UCO Bank.