World Trade Center Kochi jointly with Export Promotion Council for EOUs and SEZ conducted a Webinar on the prospects of EOUs and SEZs under the present scenario.
Mr. Alok V. Chaturvedi IAS (Retd), Director General, EPCES presented the context of organising this session. He said that India should find this pandemic as an opportunity to attract business and investments from all over the world. SEZs and EOUs are good vehicles to promote exports and supply to domestic markets. Rather than re-inventing wheels, units should strengthen the existing models. Mr.Chaturvedi also moderated the discussions.
Mr. D.V. Swamy IAS, Development Commissioner, CSEZ in his address explained how the units should re-assess and identify their strengths. He opined that SEZs and EOUs should complement each other and demand for other incentives apart from tax exemptions. Product complexity of units should also come up and meet international standards.
Mr. Amitesh Singh IRS, ADG, Bangalore Zone started with the role of his department in framing tax policies. He said that Government is aware of the concerns and hardships faced by businesses due to this pandemic. Mr. Singh commented that guidelines need to be sustainable and must support the industry.
Mr. Shivadass G., Senior Advocate in his presentation brought about the latest benefits for EOUs and SEZs and explained the various schemes available for units. He discussed the ‘Manufacture and Other Operations in Warehouse Regulations, 2019’ and how units can take advantage of it. He opined that once the direct tax benefit is gone, the EOU scheme has lost its sheen. Units should also introspect on their products and markets abroad. He urged the Government to bring in more clarity on tax benefits so that it will encourage companies to decide to move into SEZ areas.
Earlier Dr. Bose Nair, Vice President WTC made the opening remarks. Senior officials from Cochin SEZ, Customs participated and answered the questions from the participants. Units from Kerala and Karnataka attended and raised their concerns with the speakers.