Govt may relax NFE for some SEZs
The government may relax the net foreign exchange (NFE) positive obligation for some categories of special economic zones (SEZs) including gems & jewellery and other manufacturing products like textiles for the next 6-12 months.
By ET Bureau |
NEW DELHI: The government may relax the net foreign exchange (NFE) positive obligation for some categories of special economic zones (SEZs) including gems & jewellery and other manufacturing products like textiles for the next 6-12 months.
The move is aimed at helping the zonessurvive the global down-turn by selling their products in the domestic market.
The SEZs will only have to pay for the duty foregone on imported inputs so that they do not have an unfair advantage over the domestic industy, commerce secretary G K Pillai has said.
A final decision is yet to be taken on the issue.
Mr Pillai added that the SEZs are expected to employ about 60,000 additional work force in the next four months. Of these 40,000 will be in the IT/ITES sectors.
The move is aimed at helping the zonessurvive the global down-turn by selling their products in the domestic market.
The SEZs will only have to pay for the duty foregone on imported inputs so that they do not have an unfair advantage over the domestic industy, commerce secretary G K Pillai has said.
A final decision is yet to be taken on the issue.
Mr Pillai added that the SEZs are expected to employ about 60,000 additional work force in the next four months. Of these 40,000 will be in the IT/ITES sectors.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
