Dated 21th June 2013
GOVERNMENT OF INDIA, MINISTRY OF COMMERCE AND INDUSTRY vide its Notification No. 17 (Re 2013)/2009-2014, Dated The 10th June, 2013 notified as under
S.O. (E): In exercise of powers conferred under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby notifies Iran under paragraph 2.35 (b) of Foreign Trade Policy, 2009-2014
2. Accordingly, 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% value addition.
3. Effect of this Public Notice:
Countries eligible to avail benefits of Para 2.35 (b) of Foreign Trade Policy, 2009-2014 have to be notified. Iran is being notified now as eligible.
SOURCE: GOVT. OF INDIA, Ministry of Commerce and Industry