Extension of benefits of the Remission of Duties and Taxes on Exported Products RoDTEP scheme to special economic zones (SEZs) and export-oriented units (EOUs) is in the pipeline to make SEZs more investor-friendly, S Kishore, special secretary in the Indian department of commerce, told a recent webinar organised by the Confederation of Indian Industry (CII).

The government in August announced rates of tax refunds under RoDTEP for 8,555 products like yarn marine goods and dairy items, but SEZs and EOUs were kept out of this. The industry has been demanding for this extension.

Kishore said recognising the pivotal role played by SEZs in pushing the country''s exports, several reforms have been introduced and these include digitisation of processes and promotion of green zones to attract foreign direct investment, according to a CII press release.

There is strong inter-ministerial coordination for addressing policy issues and promoting Indian SEZs as readymade land banks that offer plug-and-play facilities, he said.

Sanjay Budhia, co-chairman of CII National Committee on EXIM and managing director of Patton International Ltd, suggested that granting infrastructure status to SEZs, formulating separate rules and procedures for manufacturing and services SEZs, and merging the SEZ policy with other schemes like the national industrial manufacturing zones will also prove to be useful.

Fibre2Fashion News Desk (DS)

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