How Can Agricultural Exporters in India Receive International Payments in 2026?

• Ticket size: Most agricultural shipments are invoiced per consignment or per container. Small trial lots for new buyers can be a few thousand dollars, while regular container shipments of rice, spices or fresh produce often run into tens of thousands of dollars per invoice.
• Currencies: Buyers usually pay in USD, with EUR, GBP and AED common for Europe, the UK and the Gulf. Under the FEMA (Manner of Receipt and Payment) Regulations, 2023, buyers outside the Asian Clearing Union may pay in INR or any foreign currency, and buyers in Nepal and Bhutan generally pay in INR.
• Geography: Buyers include importers, wholesalers, processors and retail chains in the Gulf, South-East Asia, Europe, North America and neighbouring countries. Payments from Asian Clearing Union members other than Nepal and Bhutan can be settled through the ACU mechanism under the same regulations.
• Payment methods: New buyers often pay an advance or use a letter of credit. Established buyers may pay against documents sent through the exporter's bank, or by bank transfer after the goods arrive on open account terms of 30 to 90 days.

1. 1Buyer's bankDeduction: A sending fee, if the buyer's bank charges one. On a SWIFT wire the buyer chooses who bears the charges, and some banks charge the sender.
2. 2Intermediary bankDeduction: A possible flat handling deduction. Correspondent banks routing a SWIFT wire can deduct their charge before the money reaches India.
3. 3Collecting or negotiating bankDeduction: Collection, negotiation or letter of credit charges, where documents are routed through banks. Banks charge for handling shipping documents, checking them against a letter of credit and sending them abroad.
4. 4AD bank or collecting providerDeduction: A conversion margin and any inward remittance fee. The bank or provider converts the currency at its own rate, which sits away from the mid-market rate.
5. 5GST on feesDeduction: GST on fees charged by an Indian bank or provider. Fees charged to the exporter by an India-based bank or provider are a domestic supply.
6. 6Exporter's accountDeduction: None, unless the money is kept in an EEFC account and converted later. The credit arrives with an inward remittance record that the bank uses to close the shipping bill in EDPMS.

The table ranks platforms with full published pricing for USD by the INR received on USD 25,000, then lists other business platforms that accept USD, unranked. Fees were checked on 30 Sept 2026 or later.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹94.86 per USD for 3 Nov 2026.

• Shipment date: Regulation 5 counts the realisation period from the date of shipment for goods. For goods sent to a warehouse outside India, it runs from the date of sale. Track both dates for each shipping bill. See export realisation period.
• Advances: Regulation 10 requires an advance and the later export proceeds to go through the same AD bank, unless the exporter informs both banks of a change. See advance payment against exports.
• Quality claims: Buyers of produce sometimes pay less after a quality or weight claim. Regulation 6 lets the AD bank allow a reduction in export value, and for shipping bills up to ₹10 lakh the exporter's declaration is enough. See short realisation of export proceeds.
• Shipment size: Paragraph 11(d) of the RBI Master Direction on Payment Aggregators caps each inward transaction through a cross-border payment aggregator at ₹25 lakh. Full container shipments above that value need a SWIFT wire, a collection or a letter of credit. See PA-CB transaction limits.
• RCMC: Under para 2.57 of the Foreign Trade Policy 2023, an RCMC is needed to claim benefits under the policy. A Certificate of Registration as Exporter of Spices from the Spices Board counts as an RCMC. See spice exporters.

Agricultural exporters in India need an IEC, a shipping bill that carries the EDF, an AD code registered with Customs, the right purpose code and timely realisation so the bank can close each EDPMS entry. The FEMA (Export and Import of Goods and Services) Regulations, 2026 govern these steps from 1 October 2026.

• IEC: Para 2.05 of the Foreign Trade Policy 2023 says no goods can be exported without an IEC unless exempted. The IEC is the same as the PAN, issued online by DGFT, and must be updated every year between April and June. See how to apply for an IEC.
• Shipping bill and EDF: Regulation 3(1) requires an EDF showing the full export value at the time of export, filed with Customs. At EDI ports the EDF is deemed part of the shipping bill. Circular No. 20 supersedes the old Master Direction on exports from 1 October 2026. See shipping bill.
• AD code: Customs links each shipping bill to the AD code of the exporter's bank. The ICEGATE FAQ says the AD code can be registered online through the ICEGATE user profile, and a rejected application must be resubmitted. See AD code registration.
• EDPMS: Under Regulation 4(2), the AD bank closes the EDPMS entry when it credits the export proceeds. For shipping bills up to ₹10 lakh, entries can be closed on the exporter's declaration, filed singly or quarterly in bulk. See EDPMS closure.
• e-BRC: The DGFT eBRC FAQs describe the eBRC as DGFT's confirmation that the exporter has received payment, now self-generated by the exporter from inward remittance data the bank shares. EDPMS and eBRC are separate systems. See what is e-BRC.
• FIRA or FIRC: FIRA is not a term defined in RBI regulations. Banks issue a foreign inward remittance certificate or advice on request, and the eBRC draws on the same inward remittance message. See FIRC vs FIRA vs eBRC.
• Purpose code: The RBI purpose code list gives P0103 as "Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF, other than Nepal and Bhutan" and P0102 as "Realisation of export bills (in respect of goods) sent on collection (full invoice value), Other than Nepal and Bhutan". See purpose code for export of goods.

Exports of agricultural goods are zero-rated for GST under IGST Act section 16, so they can leave India without IGST under an LUT, or with IGST paid and refunded where section 16(4) notifications allow. Income from trading or processing produce for export is business income, and only a cultivator's sale of their own produce can be exempt agricultural income.

• LUT: Under CGST Rule 96A, an exporter files a Letter of Undertaking in Form GST RFD-11 before exporting without IGST. Tax with interest becomes due if the goods are not exported within three months of the invoice date, or any longer period the Commissioner allows. See LUT filing on the GST portal.
• IGST refund: Section 16(4) lets the government notify which exporters or goods may export on payment of IGST and claim it back. Under CGST Rule 96, the shipping bill is treated as the refund application once the export manifest and a valid GSTR-3B are filed and the rule's other conditions are met. See what is IGST refund.
• Exempt produce: IGST Act section 16(2) allows input tax credit for zero-rated supplies even when the goods are exempt. Section 16(5) blocks refunds on goods subject to export duty, and the section 16(3) proviso requires refunds to be repaid if sale proceeds are not realised in time.
• Agricultural income: Section 2(5) of the Income-tax Act, 2025 covers income from land used for agriculture, including a cultivator's sale of produce with only basic processing to make it marketable. Schedule II exempts it. Profits from buying, processing or trading produce for export are business income.
• Section 58: Section 58 of the Income-tax Act, 2025 replaces old section 44AD from tax year 2026-27. A resident individual, HUF or firm other than an LLP with turnover up to ₹2 crore, or ₹3 crore if cash receipts are within 5 percent, can declare 6 percent of receipts by banking or online modes and 8 percent of the rest as profit. The Income Tax Department FAQ confirms the consolidation.

Rules and rails are linked to official sources below with the dates they were checked. Platform figures come from each platform's own pages, checked on 30 Sept 2026 or later, and RBI authorisation was checked against RBI's published list. Rates are XE live mid-market rates, dated 3 Nov 2026. The method is on the methodology page.

1. Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB (amended up to 22 September 2026), Reg 2(1)(f)(i) specified authority for goods: Commissioner of Customs (DTA); Reg 3(1) EDF at time of export, deemed part of shipping bill at EDI ports; Reg 4(2) EDPMS closure, declaration up to ₹10 lakh per shipping bill, quarterly bulk closure; Reg 5 nine months from date of shipment (goods), date of sale (warehouse abroad), twelve months if invoiced or settled in INR, AD may extend; Reg 6 reduction, declaration up to ₹10 lakh; Reg 10(1) advance and realisation through same AD unless both ADs informed; Reg 13 unrealised beyond one year: further exports only against full advance or irrevocable LC (checked 8 Oct 2026)
2. RBI A.P. (DIR Series) Circular No. 20 (16 January 2026), Supersedes the Master Direction on Export of Goods and Services and related circulars from 1 October 2026 (checked 8 Oct 2026)
3. Foreign Exchange Management (Export and Import of Goods and Services) (Amendment) Regulations, 2026 (22 September 2026), Regulation 5(1): 'fifteen months' replaced by 'nine months'; 'eighteen months' replaced by 'twelve months' (checked 8 Oct 2026)
4. Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, Regulation 3(2)(I)(a): (i) Nepal and Bhutan in Indian Rupees, with an exception for Nepal importers permitted by Nepal Rastra Bank to pay in foreign currency; (ii) ACU members through ACU mechanism; (iii) other countries in Indian Rupees or any foreign currency (checked 8 Oct 2026)
5. RBI Master Direction on Regulation of Payment Aggregator (PA), Para 11(d): for inward or outward transactions processed by a PA-CB, the maximum value per transaction shall be ₹25 lakh (checked 8 Oct 2026)
6. RBI circular: Guidelines to facilitate faster cross-border inward payments (9 April 2026), Para 3: credit inward payments received during forex market hours within the same business day; effective six months from the circular date (checked 8 Oct 2026)
7. RBI A.P. (DIR Series) Circular No. 84: Purpose codes for reporting under FETERS (29 February 2012), Group 01 Exports (of Goods): P0101 'Value of export bills negotiated / purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.), Other than Nepal and Bhutan'; P0102 'Realisation of export bills (in respect of goods) sent on collection (full invoice value), Other than Nepal and Bhutan'; P0103 'Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF, other than Nepal and Bhutan' (checked 8 Oct 2026)
8. RBI Master Direction: Deposits and Accounts, EEFC account: monthly credits converted to Rupees on or before the last day of the succeeding calendar month after adjusting for approved uses (checked 8 Oct 2026)
9. Integrated Goods and Services Tax Act, 2017, section 16 (CBIC), 16(1)(a) export of goods is a zero rated supply; 16(2) credit may be availed for zero-rated supplies even if exempt; 16(3) refund of unutilised ITC under bond or LUT, proviso: deposit refund with interest if sale proceeds not realised within FEMA time limit; 16(4) Government may notify classes of persons or goods that may export on payment of IGST and claim refund; 16(5) no refund where goods are subjected to export duty (checked 8 Oct 2026)
10. Central Goods and Services Tax Rules, 2017, Rule 96 (CBIC), Rule 96(1): shipping bill deemed an application for refund of IGST paid on goods exported, once the export manifest or report is filed, a valid GSTR-3B is furnished and Aadhaar authentication under rule 10B is done (checked 8 Oct 2026)
11. Central Goods and Services Tax Rules, 2017, Rule 96A (CBIC), Rule 96A(1): LUT in Form GST RFD-11 prior to export; (a) tax with interest due fifteen days after three months from invoice date, or further period allowed by the Commissioner, if goods are not exported (checked 8 Oct 2026)
12. DGFT FAQs on Self-Generation of eBRC (Version 1.0, March 2024), FAQ 1: eBRC issued by DGFT as confirmation that the exporter has received payment against export of goods or services; EDPMS and eBRC operate as distinct systems; FAQ 56: eBRC can be generated where the shipping bill AD code differs from the IRM AD code (checked 8 Oct 2026)
13. Foreign Trade Policy 2023, Chapter 2 (DGFT), Para 2.05: IEC mandatory for export of goods unless exempted, same as PAN, annual update April to June; para 2.06: mandatory export documents include the shipping bill; para 2.57: RCMC required for FTP benefits, CRES from Spices Board treated as RCMC (checked 8 Oct 2026)
14. ICEGATE Help: Frequently Asked Questions, AD code can be registered online through the ICEGATE user profile; a rejected AD code application should be resubmitted as a new application (checked 8 Oct 2026)
15. Income Tax Department: Objective and scope of the new Act (Income-tax Act, 2025), FAQ 2: 1961 Act repealed on 01.04.2026; FAQ 25: presumptive schemes in sections 44AD, 44ADA and 44AE consolidated into section 58 (checked 8 Oct 2026)
16. The Income-tax Act, 2025 (No. 30 of 2025), Gazette of India, Section 2(5) definition of agricultural income; Schedule II item 1: agricultural income not included in total income; section 58(2) Table Sl. No. 1: turnover up to ₹2 crore, or ₹3 crore where cash receipts do not exceed 5%, deemed profit 6% of receipts by banking or online mode and 8% of the rest; section 58(11)(a) eligible assessee: resident individual, HUF or firm other than LLP (checked 8 Oct 2026)
17. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
18. Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
19. Kotak Everyday Savings Account fees and charges, Foreign Inward Remittance certificate (Branch Request) INR 100/Request; GST on Foreign Currency Conversion; fees exclusive of GST (checked 6 Oct 2026)
20. HDFC Bank: Remittance Services Fees & Charges, Inward Remittance Charge: No Charge; FIRC Charge for Inward Remittance & FCY Cheque Collection INR 200 per FIRC; GST slabs on amount of currency exchanged (checked 6 Oct 2026)
21. Wise India: Fees for receiving money (Business), Conversion fee depends on the currency; eFIRC for every transfer; GST 18% of (conversion fee + eFIRC fee); calculator (checked 6 Oct 2026)
22. Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
23. PayPal India Merchant Fees, Receiving international transactions; Currency Conversions (3.0% converting balance and payments received; 4.00% all other cases); Withdrawals Out of PayPal; Dispute Fees; Other Fees (Last Updated 28 March 2024) (checked 6 Oct 2026)
24. Airwallex Help: Eligible Countries and Territories, INDIA IN - AWX Legal Entity SINGAPORE (checked 7 Oct 2026)