Commerce Ministry take steps to improve ease of doing business in SEZs

Seeking to improve ease of doing business in SEZs, the commerce ministry has permitted units in these zones to send goods for purposes such as repair and maintenance to outside market or abroad on a self-attestation basis.

“With a view to promote the ease of doing business further, it is advised that SEZ units are now allowed to remove goods for repair, replacement, testing, calibration, quality testing and research and development purposes also on self attestation basis under intimation to the specified officer and on giving an undertaking to the authorised officer for return of such goods,” the ministry said.

Earlier units in the special economic zones would have to take an undertaking from a recognised laboratory or institution to send the goods for purposes such as repair and maintenance.

The move is part of steps the ministry is taking to revive investors confidence in SEZs.

In a bid to promote exports from Special Economic Zones, government has extended all the incentives to such units that are available to exporters outside such enclaves.

Exports from SEZs have gone up from Rs 22,000 crore in 2005-2006 to Rs 4,94,077 crore in 2013-14.

The government is also taking steps to improve India’s ranking in ease of doing business. It is aiming to improve the ranking within 50th position in the next two years from the current 142nd.

Source: CredaiNCR.Org

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