HERE is some good news for units located in special economic zones (SEZs). The government has shelved its plan of imposing a minimum 51% mandatory export obligation on such units. There would be no changes in the present SEZ rules, which lay down that SEZ units need to be only net foreign exchange earners.The decision taken at a recent meeting of the empowered group of ministers (eGoM) on SEZs would come as a huge relief to investors in SEZ units, both foreign and domestic, as they would not be forced to start exporting from the first year of operations.
Exports from SEZs were estimated at Rs 66,638 crore in 2007-08 which was 92% higher than exports worth Rs 34,615 crore from the zones in 2006-07.
Contributed By:
Prof. Amit Dey
(Globsyn Business School)
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