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India’s exports from the Export Oriented Units (EOUs) and Special Economic Zones (SEZs) are growing by about 25% and are expected to cross Rs.50,000 crore during the current financial year 2004-05. “However this 25% growth rate is not adequate. The country’s total exports are growing at more than 20%. Since EOUs and SEZ units have a special preferential regime and since their number is increasing, the growth rate of exports from these units should be in the region of 30%. This should be our target”, Shri Kamal Nath, Union Minister of Commerce & Industry, said while addressing the Open House with EOUs & SEZ units, in Mumbai today.
The Minister announced that Domestic Tariff Area (DTA) units making supplies to SEZs would now be eligible for Duty-Free Replenishment Certificate (DFRC) and a notification to this effect had been issued yesterday. With this, one major demand of SEZ units has been taken care of. Supplies made by DTA units to SEZs were so far eligible for drawback, Duty-Entitlement Pass Book (DEPB) and advance licence but were not entitled to DFRC.
Shri Kamal Nath also gave an assurance that the long-awaited SEZ bill would be brought before Parliament in the coming Budget session. “The government is committed to have the SEZ legislation enacted as early as possible to give stability to our SEZ units and to enhance the confidence of investors in both establishment of SEZs, as well as manufacturing and service units within them”, he said, responding to the concerns expressed by SEZ units about whether at all or not the SEZ Act would be passed.
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SB/MRS
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