Section 2, Foreign Exchange Management Act, 1999 [S20-12Q]
As at 7 September 2026. In force from 27 August 1999.
2. Definitions.—In this Act, unless the context otherwise requires,— (a) "export" with its grammatical variations and cognate expressions, means taking out of India any goods by land, sea or air; (b) "import" with its grammatical variations and cognate expressions, means bringing into India any goods by land, sea or air; (c) "Director General" means the Director General of Foreign Trade appointed under section 6; (d) "unit" means a unit set up by an entrepreneur in a Special Economic Zone; (e) "person resident in India" means a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year; (f) "notification" means a notification published in the Official Gazette, and the expression "notified" shall be construed accordingly; (g) "prescribed" means prescribed by rules made under this Act.
Defined terms in this text (5)
Director General: Section 2, Foreign Exchange Management Act, 1999 [S2012Q] (In this Act, unless the context otherwise requires,—): "Director General" means the Director General of Foreign Trade appointed under section 6
Director General: 30 more definitions.
export: Section 2, Foreign Exchange Management Act, 1999 [S2012Q] (In this Act, unless the context otherwise requires,—): "export" with its grammatical variations and cognate expressions, means taking out of India any goods by land, sea or air
export: 12 more definitions.
import: Section 2, Foreign Exchange Management Act, 1999 [S2012Q] (In this Act, unless the context otherwise requires,—): "import" with its grammatical variations and cognate expressions, means bringing into India any goods by land, sea or air
import: 34 more definitions.
person resident in India: Section 2, Foreign Exchange Management Act, 1999 [S2012Q] (In this Act, unless the context otherwise requires,—): "person resident in India" means a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year
person resident in India: 3 more definitions.
unit: Section 2, Foreign Exchange Management Act, 1999 [S2012Q] (In this Act, unless the context otherwise requires,—): "unit" means a unit set up by an entrepreneur in a Special Economic Zone
unit: 13 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Rule 2, Foreign Exchange Management Act Rules, 1999 [S20-1T2], 27 August 1999, Band A. " (2) Words and expressions used herein and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act".
Not held (0)
none
Duties published under this section (0)
none