New
Delhi:
In a bid to make a favourable decision on SEZs more palatable,
commerce minister Kamal Nath today mooted export obligations
on units in special economic zones and said there was
a need for further clarity on the issue to address concerns
these units might not sell abroad.
Nath
said, Section 5 of the SEZ Act had already provided for
it export obligations and . only a clarification was needed.
Section 5 of the SEZ Act stipulates that the government
would be guided by the idea of "promotion of exports
of goods and services" while approving these zones.
At
present, units in SEZs have to earn more foreign exchange
than they spend on importing goods and services from abroad.
Apart from this condition, they are not subject to any
minimum value addition norms or export obligations.
Nath''s
statement comes a day after the finance ministry proposed
at the meeting of empowered group of ministers to make
it mandatory for units to export up to 50 per cent of
their production.
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