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

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search