Exporters/Foreign Exchange Earners
Corporates who have foreign exchange earnings are permitted to raise CElls up to thrice the average amount
of annual exports during the previous three years, subject to a maximum of USD 200 million without end-use restrictions, that is. for general corporate objectives excluding investments in stock markets or in real estate. The maximum level of entitlement in anyone year is the cumulative limit and debt outstanding under earlier approvals (erstwhile USD 1') million exporters scheme and thereafter) would be netted out 0 derer nrne annual eligibility.
Holding companies promoters are permitted to raise ECBs up to a maximum of USD 200 million equivalent to finance equity investment n a subsidiary joint venture company implementing infrastructure projects. This flexibility is being given in order to enable domestic investors in infrastructure projects to meet the minimum domestic equity requirements. In case the debt is to be raised by more than one promoter for a single project, then the total quantum of loan by all of them put together should not exceed USD 200 million.