SEEPZ has $ 30 billion export potential, needs a complete overhaul: Piyush Goyal

Union Trade and Industry Minister Piyush Goyal visited the Santacruz Electronics Export Processing Zone (SEEPZ) in Mumbai on Friday as part of “Azadi Ka Amrit Mahotsav Saptah” celebrated by his ministry. Stating that the SEEPZ established in 1973, initially to promote electronics manufacturing in India, is in need of a complete overhaul, Goyal said, “Let’s aim for transformational change, not incremental change. Let’s bring the dynamism back to SEEPZ as in previous years, ”he said. while addressing exporters and trading partners.

The Minister said: “I am convinced that with the cooperation of all, SEEPZ can be made modern and world-class. We can think of a public-private partnership program in which industrial units that renovate their properties can be exempted. rent review for 10 years. “In stating this, he urged the exporters based at SEEPZ to collectively decide to make the common service center operational and redevelop the premises of SEEPZ and turn some centers here into a new one. chic tip to serve international customers.

The minister also suggested that the Indian Trade Promotion Organization (ITPO) could have a 30,000 to 40,000 square foot exhibition complex at SEEPZ to facilitate buyers-sellers meetings. Citing the example of Surat Diamond Bourse, he urged SEEPZ to get help in terms of facilitation for this work.

The minister also cited the example of the Rs 4000 crore makeover of Pragati Maidan in Delhi. Goyal said the Center had previously announced aid of Rs 200 crore for internal expansion and renovation of one of India’s oldest export processing zones. Goyal added: “We are proceeding with a partial de-recognition of SEZs, we have already liberalized a number of rules, we have now allowed everyone to be multisectoral, including SEEPZ. We also discuss how SEZs can play a bigger role. in the internal tariff zone (DTA) through a balancing charge.

The minister said that we should consider an export of US $ 30 billion from SEEPZ. The minister also said that many of the issues raised by exporters, such as permission to transparently allow e-commerce for artificial jewelry up to $ 800, are under consideration by high-level committees.

Goyal said he is “fighting hard” for the gemstone and jewelry industry to secure a 5 percent rights concession they are currently charged in the UAE, as part of the harvest deal. early. The minister also said that more free trade agreements were being finalized with the UK, UAE, Australia and the EU, in an attempt to provide greater market access. to exporters. (ANI)

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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