Anup K. Pujari, Director-General Foreign Trade (DGFT), Union Ministry of Commerce, said here on Monday that the government had created a mechanism whereby payments for exports from India to Iran could be made in Indian rupees instead of convertible currency such as American dollars and Euros.
He was speaking at a convention of exporters on ‘Karnataka: Export Vision-2020,' organised by the Southern Region chapter of the Federation of Indian Export Organisations (FIEO).
Mr. Pujari said a delegation of Indian exporters would visit Iran within a few weeks with the aim of promoting exports to Iran directly. He told exporters to continue with their exports to Iran.
Ajay Sahay, Chief Executive Officer, FIEO, said exporters could get the importer-exporter (IE) code (a 10-digit code issued by DGFT to Indian companies) online and there was no need to visit the DGFT office in person. He said there was a 24-hour toll-free helpline and live web chat on Wednesdays from 3 p.m. to 5 p.m.
G. Giridhar Prabhu, proprietor of Achal Industries and Mangalore-based cashew exporter, told The Hindu that till now, exports to Iran were denominated in convertible currencies because of political issues there. Now, transactions can be done in rupees through the bilateral arrangement.
