SEZ Policy to play important role to create world class infrastructure

14 Sep '07

3 min read

Shri Kamal Nath, Union Minister of Commerce & Industry, has called for a coordinated effort by all stakeholders so that SEZ Scheme can fulfill its objectives and is implemented efficiently by the State Governments by providing single window facilities and all other promised benefits.

It is also important that SEZ Developers do their work at a faster pace so that the space in SEZs is actually made available to the SEZ units, he added.

Highlighting the importance of the EOU Scheme that has played a very important role in last 25 years in creation of manufacturing facilities and generation of employment, Shri Kamal Nath informed that pursuant to the discussions with EPCES in various open houses, a number of issues relating to EOUs have been resolved.

This includes implementation of Fast Track Scheme, exemption from Bank Guarantee, extending the facility of Cenvat Credit, reduction of basic customs duty to 25% on the DTA sale, simplified procedure of registration at the port etc.

However, a major issue relating to EOU i.e. removal of Sunset Clause is yet to be resolved and had been discussed with the Prime Minister's Economic Advisory Council, Shri Kamal Nath informed. He was addressing the 4th Annual General Meeting of the Export Promotion Council for EOUs and SEZ Units (EPCES).

Shri T. Vasu, Chairman, EPCES; Shri L.B. Singhal, Director General, EPCES; Shri R. Gopalan, Additional Secretary, Department of Commerce; Shri Anil Mukhim, Joint Secretary, Department of Commerce besides representatives of the SEZ and EOUs were also present at the occasion.

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