Home / Knowledge / News / Textiles / Export Processing Zones to get a makeover
Export Processing Zones to get a makeover
16
Dec '09
The Export Processing Zones (EPZs) setup in the 1990s to accelerate industrial growth will receive a makeover. In six months time they will be designated as Special Economic Zones (SEZs) which will provide more incentives along with removing the hitches encountered by the EPZs.

At a workshop to deliberate on the draft policy with stake holders, the Assistant Minister of Trade, Omingo Magara said that the government intends to conclude the process of setting up the zones in the shortest time possible with a commitment that it wants them launched in six months.

The EPZs were set up primarily to supply textiles and clothing to the US markets under the African Growth and Opportunities Act (AGOA), but began experiencing challenges after the dismantling of the multi-fibre agreement in 2005, which proved to be beneficial to low cost Asian countries.

The main reason for changing the status as per the draft policy is that the current legal status of the EPZs do not allow value addition to primary products, development of industrial clusters and support to small and medium enterprises.

The SEZs on the other hand, will seek to correct these while diversifying the products and services by giving sector specific incentives and will be launched across the country starting with the Athi Basin Industrial Corridor.

Fibre2fashion News Desk - India


Must ReadView All

Moments of EPA signing in Tokyo. Courtesy: Twitter handle of Jean-Claude Juncker

Textiles | On 18th Jul 2018

EU and Japan sign Economic Partnership Agreement

European Union and Japan have signed an Economic Partnership...

Courtesy: Tego

Apparel/Garments | On 18th Jul 2018

Tego plans to expand product range in 2018-19

Tego, a company that creates premium athletic gear for modern...

Courtesy: rawpixel.com from Pexels

Textiles | On 18th Jul 2018

Hike in import duty on textile-apparel by India beneficial

The Indian Government’s decision to raise import duty on textile and...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search