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SEZ entitlements to Brandix

05
Sep '06
Brandix India Apparel City (BIAC) in Vizag has recently been granted Special Economic Zone (SEZ) status.

Accordingly, BIAC which is envisaged to be a vertically integrated apparel supply chain city will be a duty free enclave and treated as a foreign territory for trade operations and employment in the apparel and textile industry.

Manufacturing units operating within BIAC will be exempt from customs duty on import of capital goods, raw materials, consumables and office equipment. As a further result of the SEZ status, manufacturing units will also be exempt from central excise duty on procurement from the Domestic Tariff Area (DTA).

Manufacturing units will also have full freedom for sub-contracting and will be permitted 100 percent Foreign Direct Investment (FDI) with full and free repatriation of funds.

Since BIAC is an Income-tax free enclave, manufacturing units will enjoy a 100 percent income-tax free benefit for the first 5 years of operation, 50 percent for next 5 years, and a further exemption of 50 percent for 5 years on reinvestment of 50 percent of its profits.

BIAC will have a single window clearance facility where units can get all clearances and approvals and set-up operations from a single point.

Dr. Peter Sun, CEO of BIAC said “BIAC is unique because it offers a dynamically balanced vertical integration proposition, further, with incentives provided through the SEZ, it provides unbeatable value to manufacturing units setting up operations”.


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