The Reserve Bank of India (RBI) has issued a key amendment to the Foreign Exchange Management (Export of Goods and Services) Regulations under FEMA, refining the export policy for vessels used in offshore support services.
The amendment, notified on June 24, 2025, aims to regulate the export and re-import obligations of vessels such as tugs, tugboats, dredgers, and other offshore support ships.
The new regulation inserts sub-regulation (ca) under Regulation 4 of the principal FEMA Regulations of 2015. It explicitly includes the following clause: “Tugs or Tug Boats, Dredgers and Vessels used for providing offshore support services, subject to their re-import into India.”
This change clarifies the RBI’s policy stance that such offshore support vessels, although allowed to operate internationally, are to be treated as temporary exports and must be re-imported into India after their offshore deployment.
The amendment was issued in exercise of the powers conferred by Section 7 and Clause (b) of Sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999). It has come into force with immediate effect following its publication in the Official Gazette.
This is the sixth amendment to the original 2015 FEMA regulation and is expected to streamline compliance for Indian companies involved in offshore logistics and marine construction.
Background of Previous Amendments to FEMA 23(R):
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GSR 635(E) – June 23, 2017
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FEMA 23(R)/(2)/2019-RB – December 3, 2019
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FEMA 23(R)/(3)/2020-RB – March 31, 2020
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FEMA 23(R)/(4)/2021-RB – January 8, 2021
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FEMA 23(R)/(5)/2021-RB – September 8, 2021
With the latest change, the RBI continues its effort to modernize FEMA in alignment with global maritime practices while safeguarding domestic legal obligations under foreign exchange law.
Notification Details
Notification No. FEMA 23(R)/(6)/2025-RB
Date: 24/06/2025
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