ANNOUNCEMENT 14 Dec 2012

A new trade finance transaction was announced in December 2012.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



RBI Circular:
http://rbi.org.in/scripts/NotificationUser.aspx?Id=8249&Mode=0


Inception date: 27 Jun 2013 | Removal date: open ended

Trade finance

On 14 December 2012, the Government of India entered into an agreement to provide a loan of USD 35 million to the Government of the Republic of Ghana to finance the purchase of Indian goods and services for the purpose of constructing a sugar plant.
 
The credit is provided by the Export Import Bank of India (EXIM) and requires that at least 75% of the contract price for goods and services associated with the plant is sourced from India. The remaining 25% may be sourced from elsewhere. This measure disadvantages other sellers of the same products to Ghana.
 
The credit agreement is effective from 27 June 2013. The Circular "A.P. (DIR Series) Circular No.13" was published for the same by the Reserve Bank of India on 17 July 2013.
 

AFFECTED SECTORS

 
445

AFFECTED PRODUCTS

 
843810 843830 843840 843880 843890
Inception date: 27 Jun 2013 | Removal date: open ended

Local sourcing

The credit for this transaction is provided by the Export Import Bank of India (EXIM) and requires that at least 75% of the contract price for goods and services associated with the project is sourced from India.
 
N/A
 
N/A