Exempt export units from 'sunset clause' to boost trade: SEZs to Govt
NEW DELHI: Exporters of goods and services from designated export-oriented units (EOUs) and special economic zones (SEZs) have urged the Government to exempt export-centric and employment-generating units from the sunset clause, to boost exports of goods and services from India.
In a letter addressed to the Union Finance Minister Arun Jaitley, the Export Promotion Council of EOUs and SEZs said that frequent change in Government policies has led to a ‘trust deficit’ in such export promotion zones, affecting fresh investments from domestic and overseas investors.
“Sudden change in the Government policy restricted capital inflow into EOUs and SEZs. After achieving an annual investment inflow of $43.52 billion in 2012-13, there was a slowdown in subsequent years. But, again, during 2016-17, the capital inflow hit a level of $65.27 billion. The investment inflow will jump by leaps and bounds if the Government gives us a long-term policy," said Vinay Sharma, Acting Chairman, Export Promotion Council of EOU & SEZ.