Industry & Economy
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Budget
`Ease import norms on second-hand machinery'
Our Bureau
New Delhi
,
June 23
THE Federation of Indian Export Organisations (FIEO) has urged the Government to allow small-scale industries (SSIs) to import second-hand machinery without any age limit under the export promotion capital goods (EPCG) scheme.
The Exim policy currently stipulates that second-hand capital goods can be imported under the EPCG scheme only if they are less than 10 years old.
In a statement, the FIEO President, Mr Rafeeque Ahmed, said that instead of permitting imports of machinery of specified age, imports can be allowed based on the criteria of ``residual life of more than 10 years.''
Mr Ahmed said that export-oriented units and special economic zone units are already allowed to import second-hand capital goods without any age-limit.
The FIEO chief held that removal of age limit would enable SSIs to benefit from the EPCG scheme by importing low cost second-hand machinery with useful residuary life. The Federation has also suggested that normal import of old machinery be permitted without any age restriction.
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