The Export Promotion Council for Handicrafts’ (EPCH) representatives R K Passi, Vice Chairman and Rakesh Kumar, ED, recently met Commerce Secretary Anup Wadhawan to address the issues faced by exporters to Iran, as they’re facing difficulties in claiming their GST Refund and duty drawback.
It is important to mention here that the US government recently imposed sanctions on Iran, that has barred other countries including India to conduct a trade deal with them. Reportedly, the US President was quoted as saying that, “Individuals or entities that fail to wind down activities with Iran risk severe consequences.”
EPCH has urged the government to intervene in this matter and come up with a solution for Indian weavers, who are facing problems from banks who are denying to accept the shipping documents for clearance of GR form to RBI, because of which the exporters is unable to get the Bank Realisation Certificate (BRC).
Furthermore, EPCH’s Executive Director, Rakesh Kumar said that without the BRC, an exporter cannot claim the benefits such as MEIS/duty drawback and GST refund provided to them by the central government.
During the 2017-18 period, the handicrafts exports to Iran from India were clocked at US $ 48.10 million, which is over Rs 300 crores.
Notably, Kumar also marked out that despite RBI has issued a No Objection Certificate, some banks in Moradabad are not providing eBRC. Previously, exports to Iran, every payment used to come in Euros from a third party and further credited in respective exporters’ accounts by their bank branches but with the unavailability of eBRC, they are unable to receive their due payments.
In a statement issued, EPCH has urged the commerce secretary to authorise UCO Bank at Moradabad to open INR account for exporters much like the Delhi branch of the bank which allows the exports to Iran in Indian currency.
Reportedly, the commerce secretary has assured the exporters’ council to take all the necessary steps in the matter and take the issue in front of RBI and Ministry of Finance.
Bharat Tex Special Report 2026 
