IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 22 Aug 2017 | Removal date: open ended
Still in force

Trade finance

On 3 May 2016, the Export Import Bank of India, on behalf of the Government of India, extended a Line of Credit of USD 1 billion to the Government of Mongolia for financing the development of "railways and related infrastructure projects".

As is seen from Letters of Credit extended by the EXIM bank in the past, the agreement will require that the recipient country source at least 75% of the contract price for goods and services associated with the project from India.

As per the Reserve Bank of India's Circular RBI/2017-18/77 A.P. (DIR Series) Circular No. 09, the credit agreement is effective from 22 August 2017.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

412 Products of iron or steel
7302 Railway or tramway track construction material of iron or steel, the following : rails, checkrails and rack rails, switch blades, crossing frogs, point rods and other crossing pieces, sleepers (crossties), fishplates, chairs, chair wedges, sole plates
730210 Rails
730230 Switch blades, crossing frogs, point rods and other crossing pieces
730240 Fishplates and sole plates
730290 Other
469 Other electrical equipment & parts
8530 Electrical signalling, safety or traffic control equipment for railways, tramways, roads, inland waterways, parking facilities, port installations or airfields (other than those of heading 86.08).
853090 Parts
495 Railway & tramway locomotives & rolling stock; parts
8602 Other rail locomotives; locomotive tenders.
860210 Dieselelectric locomotives
8606 Railway or tramway goods vans and wagons, not selfpropelled.
860610 Tank wagons and the like
860691 Covered and closed
8607 Parts of railway or tramway locomotives or rollingstock.
860711 Driving bogies and bisselbogies
860719 Other, including parts
860721 Air brakes and parts thereof
860729 Other
860730 Hooks and other coupling devices, buffers, and parts thereof
860791 Of locomotives
860799 Other

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