Govt to simplify Exim norms for SEZs, EoUs

NEW DELHI: To make life simpler for export oriented units (EoUs) and units located in special economic zones (SEZs), the government has decided to hive off the policy provisions for these categories from the Export-Import Policy.
Instead of being part of the main policy, the governing provisions for these segments would be brought out as special chapters. Two separate books would be published for these sectors, according to commerce department officials.
As of now, some of the norms governing EoUs and SEZ units are part of the Exim Policy while others are included in the first part of the Handbook of Provisions. The commerce department has put together all these provisions into a single chapter for each of these two sectors. Therefore, the commerce department will unveil two special policies — one for EoUs and another for SEZs — while announcing the revised Exim Policy for ’03-04 at the end of this month. Decisions related to EoUs and SEZs could be speeded up as there will be a single source of regulations instead of multiple references.
Efforts are also on to simplify procedures for EoUs and SEZs with a composite customs notification for the enabling provisions. This will help exporters via lower transaction costs, according to R Veeramani, chairman of the Export Promotion Council for EoUs/SEZs. Exporters have already urged the finance ministry to formulate a comprehensive notification.
In the case of Exim Policy, comprehensive rules are being brought out as booklets which will act as separate chapters on SEZ and EoUs. As of now, the rules for these segments are divided into various sections on sectoral basis.