Visakhapatnam

Andhra Pradesh Chambers of Commerce and Industry Federation seeks incentives under the Service Exports from India Scheme

Representatives of AP Chambers submitting a memorandum to Union Minister of State for Commerce and Industry Som Prakash, in Visakhapatnam on Monday.

Representatives of AP Chambers submitting a memorandum to Union Minister of State for Commerce and Industry Som Prakash, in Visakhapatnam on Monday. | Photo Credit: BY ARRANGEMENT

Representatives of AP Chambers of Commerce and Industry Federation sought the intervention of Union Minister of State for Commerce and Industry Som Prakash, in improving trade and commerce.

They met the Union Minister here on Monday and submitted a letter seeking provision of incentives, under the Service Exports from India Scheme (SEIS), to all service providers, who are providing services from India to organisations outside the country, which have been pending for the last two years. These incentives would provide working capital and also ease the interest burden on capital borrowings.

Federation chairman K.R.B. Prakash and vice-president Sudhir Mulagada also sought granting of ‘industry’ status to the logistics sector to enable them to be considered as industrial activities by all state development authorities in the context of land-use and which would drastically lower the cost of setting up units. The industry status also offers many advantages in the areas of land conversion, warehouse construction, property taxes and will also attract investments supporting the various projects of the State governments.

They also sought among other things exemption of SEZ material inputs for self- consumption from prevailing export levies, exemption from rental enhancement for 2020 and 2021 in view of COVID-19 and measures by the Ministry of Commerce to facilitate export of huge quantities of wheat lying at ports. They noted that, 1.6 lakh MT of wheat, valued at ₹400 crore, was lying at Visakhapatnam Port.


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Printable version | Jul 4, 2022 9:54:34 pm | https://www.thehindu.com/news/cities/Visakhapatnam/andhra-pradesh-chambers-of-commerce-and-industry-federation-seeks-incentives-under-the-service-exports-from-india-scheme/article65600458.ece