India...
Visakhapatnam Export Processing Zone (VEPZ)

ABOUT VISAKHAPATNAM

"The City of Destiny", with its magnificent natural harbor and abundant natural resources is growing at a rapid pace with major core sector industries like Steel, Oil, Fertilizers, etc., are already in its fold. More industries are expected from major public and private entrepreneurs. To name a few 1000 MW Power Plants from Hindujas and the NTPC and also a Fertilizer Plant from the RPG Group. The total investment in the coming years is likely to be 30,000 to 40,000 crones.

The Government has strategically located the project of Visakhapatnam Export Processing Zone in this city in the year 1989.

HIGHLIGHTS OF VEPZ

This project was started to encourage exporters, with all basic and modern amenities and facilities to suit international standards at one place with readymade sheds & developed plots with assured supply of power, water and drainage facilities.

MANPOWER

Cheap skilled labor is available for 35 to 50 U.S. $

SINGLE WINDOW CLEARANCE

All proposals and applications for setting up units here are cleared within a span of 15 to 30 days.

VEPZ has opened up all its avenues for possible synergies from investors like Electronics, Machinery, Gems and Jewelry, Textiles, Iron and Steel, Leather Products, House-hold furnishing, Automobile Spare parts, Packaging units, Agro- based products, Processed food etc. to name a few. We are looking forward to organization interested in Investments, Technical Collaboration and Buy-Back arrangements.

INCENTIVES

From the Govt. of India:

• Exemption from Customs duty and Central Excise for both capital goods and raw materials.
• Import of these items is placed under OGL.
• Eligibility for 100% convertibility.
• Income tax holiday for a period of five years.
• Sale of goods in Domestic Tariff area up to 25%.
• Liberal sanction of Foreign Exchange including Blanket permits for business visits abroad.
• Foreign investments permitted up to 100% equity and full and free repatriation of profits allowed after payments of taxes.

From the State Govt:

• Investment subsidy of 20% of the fixed capital investment subject to a maximum of Rs.20 lakhs.
• Sales Tax : Deferment of payment of Sales tax equivalent to the extent of 50% of the fixed capital investment for a period of 14 years.
• Power rebate up to 25% for the first three years from the date of commencement of production.
• Exemption of SSI units are granted Sales tax holiday for a period of 5 years subject to a maximum of Rs.35 lakhs

For more information related to this article, please contact:
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