Exports from SEZs grew 18% in February 2018
The Dollar Business Bureau India’s exports from the Special Economic Zones (SEZs) has witnessed an increase of 18% in the month of February this year as compared to the same month last year, on the back of a good growth in the shipments of electronics, non-conventional energy products and tobacco related products. “The SEZ sector in the country has registered 18% growth in exports in February 2018 vis-a-vis the same period in 2017,” according to the latest Exports Performance Report released by the Export Promotion Council for EOUs & SEZs (EPCES). “In February, the total exports from all the SEZs amounted to Rs.22364 crore as against Rs.18990 crore in the same month last year,” the report said. The major sectors that witnessed a significant ...
Conducting inter-departmental discussions to address SEZ's woes: Prabhu
Ahmad Shariq Khan Lauding the work of SEZ/EoU fraternity in shoring up India’s exports, Commerce and Industry Minister Suresh Prabhu on Monday assured the sector’s stakeholders that the Government is looking into their concerns, particularly those relating to imposition of alternate minimum tax (MAT), dividend distribution tax (DDT) and introduction of the sunset clause. “Leaving aside some complaints about the misuse of the SEZ policy, the Government still believes that the idea of SEZ holds good for the Indian economy. Therefore, we are conducting interdepartmental discussions with respective ministries, including finance ministry, on how to best to ease the tax pressure on the SEZs/EOUs,” Prabhu said while speaking at Export Awards organised by Export Promotion Council for EOUs & SEZs (EPCES) in New Delhi. Urging the ...
EPCES asks the Govt to remove minimum alternate tax
The Dollar Business Bureau The Export Promotion Council for EOUs and SEZs (EPCES) asked the Government to remove minimum alternate tax (MAT) and continue tax incentives that have been enjoyed by the units in these zones. “The Government should reconsider the restoration of the original Special Economic Zone (SEZ) Act as it can help the sector and generate employment,” said Vinay Sharma, Officiating Chairman, EPCES. The Government should reconsider the industry’s demand for restoring tax benefits in order to support the sector’s growth and creating jobs as the Union Budget 2018-19 did not bring any concrete measure, EPCES said in a statement. “The budget has absolutely nothing important for the SEZs despite flagging the key issues affecting the sector,” it said. ...
Exclusive Interview with Rita Teaotia, Secretary, Ministry of Commerce, Govt. of India
Countries like India are majorly Small Medium Enterprises (SME)-driven. So, any trade agreement that the Government of India enters into would definitely be in favour of them, said the Commerce Secretary The Dollar Business Bureau Rita Teaotia (R), Secretary, Ministry of Commerce, Govt. of India, and Arvind Kumar(L), Secretary, Department of Industries & Commerce, Govt. of Telangana, in an interaction with The Dollar Business on Friday Federation of Indian Exporters Organisations (FIEO), jointly with the State Governments of Telangana and Andhra Pradesh and supported by Trade Promotion Organisations, had organised an interactive session with key officials from the Ministry of Commerce and Government of Telangana, at the reputed Indian School of Business (ISB), in Hyderabad on Friday. After the meeting that focused ...
