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This week for exporters: 9 Oct to 15 Oct 2026

BY EXPORTSMITRA DESK · 3 HR AGO · 2 VIEWS

The week's most important change for anyone selling to New Zealand: CBIC has notified the India–New Zealand FTA rules of origin, which take effect with the agreement on 20 October 2026. On the finance side, the RBI followed last week's repo rate rise with more tightening of rupee hedging rules, and ECGC revised country risk ratings and launched a new policy for shipbuilders.

Rule changes

India–New Zealand FTA: rules of origin notified

CBIC Notification 82/2026-Customs (N.T.) of 12 October sets out which goods qualify for FTA preference: wholly obtained goods, or goods that meet the product-specific rule in Annexure A (tariff change, qualifying value content or a specified process). Proof of origin is a Certificate of Origin or an origin declaration by an Indian status holder, and origin records must be kept for five years. Exportsmitra suggests checking your HS 2022 sub-heading against Annexure A before 20 October. Details.

RBI: more rupee-hedging rules

  • A.P. (DIR) Circular 25 (10 Oct): cancelled rupee forex hedges cannot be rebooked with any bank, and the limit for hedging without showing the underlying exposure drops from USD 100 million to USD 5 million. RBI circular.
  • Circular 26 (10 Oct): banks must keep a cash reserve with the RBI of 20% of the notional value of hedges above USD 2 million where the customer is buying foreign currency against rupees for current-account payments. This mainly hits import payments; exporters who also hedge large import bills may see higher bank pricing. RBI circular.
  • Circular 27 (12 Oct): non-deliverable rupee derivatives offered to non-residents are now for hedging only. This is a bank-side rule with no direct step for Indian exporters. RBI circular.

This follows the RBI's 7 October decision to raise the repo rate by 25 basis points to 5.50% with a stance of "calibrated tightening" (RBI MPC resolution), so rupee packing-credit costs linked to repo may rise.

DGFT: rough-diamond trading in Special Notified Zones

DGFT Notification 42/2026-27 of 9 October amends FTP para 4.49 so that eligible foreign entities (foreign diamond-mining companies, their sightholders, and linked brokers and auction entities) can import, auction, sell and re-export rough diamonds in Special Notified Zones under customs supervision. It matters mostly to diamond processors, who may see more rough supply offered locally. Details.

Sugar: EU quota for 2026-27

DGFT has allocated 5,841 MT of sugar for export to the EU under the tariff-rate quota for October 2026 to September 2027, with APEDA administering it. Sugar exports outside such quotas remain Restricted.

Shipment clearance for culture media

CAPEXIL can now issue shipment clearance and health certificates for prepared culture media (HS 3821). See our alert for details.

Insurance and markets

  • ECGC country ratings: ECGC revised the risk ratings of five countries with effect from 14 October 2026. Check our alert for the list before quoting new business to those markets.
  • ECGC Shipbuilding Project Credit Insurance Policy: launched on 14 October, it covers Indian shipbuilders against political and commercial non-payment risk at pre- and post-shipment stages, according to ECGC's announcement. ECGC.
  • Brunei: the third India–Brunei Joint Trade Committee (PIB release of 14 October) discussed easier access for Indian agricultural and animal products and named pharmaceuticals, healthcare and energy as priority sectors. PIB.
  • Canada: the fifth round of India–Canada CEPA talks ran in Ottawa from 5 to 9 October; both sides aim to conclude by the end of 2026.

Coming up in the next 30 days

Date

What

15 Oct 2026

Official merchandise trade data for September 2026 due from the Department of Commerce.

20 Oct 2026

India–New Zealand FTA and its rules of origin take effect.

Ongoing

New FEMA export rules (from 1 Oct 2026): export proceeds must be realised within 9 months.

Further out: RoDTEP and RoSCTL currently run only to 31 December 2026, and the India–EU FTA is scheduled to be signed on 16 December 2026.

This week's alerts

Sources

Last checked: 15 October 2026.

Drafted with AI help from public sources.

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