The Reserve Bank of India (RBI) has relaxed foreign exchange regulations for organisers bringing international artists and productions to India by removing the requirement to furnish a bank guarantee for certain advance remittances.
The decision, taken on the recommendation of the Ministry of Information and Broadcasting’s (MIB) Live Events Development Cell (LEDC), removes the requirement for organisers to provide a bank guarantee while making advance remittances of USD 500,000 or more for importing services under the Foreign Exchange Management (FEMA) Regulations, 2026. The revised regulations, notified on January 15, 2026, will come into effect on October 1.
The change was disclosed in a written reply by Minister of State for Information and Broadcasting L. Murugan in the Rajya Sabha. It is the first inter-ministerial policy outcome of the LEDC, which was constituted in July 2025 to support the government’s objective of positioning India as a hub for live events by 2030.
In recent years, India has hosted an increasing number of international concerts. Event organisers have, however, pointed to regulatory procedures, financing requirements and multiple approvals as factors that increase costs and affect event timelines. Advance payments to overseas artists, production companies and technical service providers often run into millions of dollars, making banking compliance a challenge.
The removal of the bank guarantee requirement for high-value advance remittances is expected to reduce working capital requirements, lower transaction costs and simplify contracting with international performers. The measure may also improve India’s competitiveness with other markets that host international touring productions.
The reform is part of the government’s broader efforts to develop the live events sector, which it considers an important contributor to economic growth, employment, tourism and cultural promotion.
According to the parliamentary reply, the LEDC has been coordinating reforms across multiple ministries and government agencies. Among its initiatives is the operationalisation of the India Cine Hub (ICH) portal, which provides a single digital workflow for applications, inter-departmental coordination, approvals, payments and inspections. The platform includes time-bound processing, real-time tracking, escalation mechanisms, integrated digital payments and audit trails.
The government said 29 States and Union Territories have designated nodal officers to process live event permissions through the portal.
The reply also noted that wider regulatory harmonisation across states is still underway. The Model Executive Order for Streamlining Licensing and Permissions for Live Events in India, 2026, prepared by the LEDC and circulated to States and Union Territories in March 2026, has so far been implemented by three Union Territories.
The Archaeological Survey of India has prepared a Standard Operating Procedure for organising live events at protected monuments and identified 224 heritage sites that could potentially host such events.
The LEDC has also circulated a concept note on a Greenfield Venue Development Policy to state governments, sports authorities and industry stakeholders to address the availability of purpose-built entertainment venues.
To support workforce development, a Skilling Committee has been constituted with the Indian Institute of Mass Communication (IIMC), the Media and Entertainment Skills Council (MESC) and the Event and Entertainment Management Association (EEMA). The committee is preparing certificate courses, short-term programmes and specialised modules in live events management.
The LEDC has also referred several industry issues to relevant ministries, including visa and Foreigners Regional Registration Office (FRRO) facilitation for visiting artists and technical crews, access to sports and heritage venues, music licensing, permissions for events beyond 10 p.m., taxation and access to finance.
The parliamentary reply stated that an execution framework for the sector has been prepared and circulated among stakeholders. Chaired by the Secretary of the Ministry of Information and Broadcasting, the LEDC includes representatives from central ministries, state governments, industry associations and other stakeholders and has held four meetings since it was constituted in July 2025.
The RBI’s revised foreign exchange regulations will take effect from October 1, 2026, alongside the government’s ongoing efforts to simplify approvals, improve infrastructure and address operational challenges for the live events industry.
