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Export industries can have captive power plants: Maran

EXIM POLICY

Export industries can go for captive power generation for which the government would give duty-free fuel, Minister for Commerce and Industry Murasoli Maran said on Sunday.

"Even while the power situation continues to confront our industries, the export industry can go for captive power generation," Maran said in New Delhi while announcing the five-year Exim Policy, which removed quantitative restrictions on exports.

"Our scheme announced today will provide duty- free fuel for such power ranging from three to seven per cent of the Free on Board value of exports," he said.

He said India's disadvantages arising from the state of the infrastructure, power tariffs, interest rates, industrial relations and taxation structure, were well-known.

He also said the various schemes would help in reducing the transaction time and costs.

The simplification announced in the policy would thus "substantially immunise against the constraints affecting the domestic economy," the minister added.

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