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Presently, resident importers can book contracts up to 50% of their eligible limit i.e., the average of the previous three financial years’ import turnover or the previous year’s actual import turnover, whichever is higher.
This circular has brought importers and exportors on par by pemitting resident importers to book forward contracts, under the past performance route, up to 100% of their eligible limit. Importers who have already booked contracts up to 50% of their eligible limit can book the forward contracts for difference arising as a result of the enhanced limits.
