The official said that SEZ units can now submit their annual performance reports by December 31, aligning the deadline with those for filing audited reports and returns under the Income Tax and GST regulations.
Announced in Budget 2025, the initiative is yet to be finalised as multiple approvals remain pending.
Meanwhile, the Ministry of Commerce and Industry has introduced several ease of doing business measures over the past month to support domestic enterprises. At the same time, it has sought to protect them from unfair trade practices by initiating anti-dumping investigations on at least 15 product categories.
However, the Export Promotion Mission, announced in Budget 2025, is yet to be finalised, with several approvals still awaited. Officials in the Ministry remain optimistic that substantial progress will be achieved within the next month.
An official from the Ministry of Commerce and Industry, speaking on condition of anonymity as they are not authorised to speak to the media, said, “The Department of Commerce has clarified that transactions for services between units located in different Special Economic Zones, as well as transactions between SEZ units and the rest of the country, are exempt from the provisions of the Foreign Exchange Management Act.”
The official further noted that SEZ entities can now submit their annual performance reports by December 31, aligning the deadline with those for filing audited reports and returns under the Income Tax and GST laws.
Additional relaxations relate to the declaration of incoming payments by exporters.
“Following sustained representations from the Department of Commerce, the Reserve Bank of India has permitted exporters and importers to self-declare payments for transactions up to ₹10 lakh,” the official said. “Banks can now close entries in the Export Data Processing and Monitoring System and Import Data Processing and Monitoring System without manual scrutiny or penalties.”
In line with these measures, exporters have also been allowed to file consolidated quarterly declarations, aimed at reducing delays, easing reconciliation processes, and cutting transaction costs and turnaround time—particularly benefiting MSMEs.
Additionally, the Directorate General of Trade Remedies (DGTR) has concluded investigations into the dumping of 15 product categories, including glass fibres, cold-rolled steel, certain antioxidants, solar cells, and soda ash.
These investigations covered imports of the aforementioned products from countries such as China, Bahrain, Thailand, Russia, Singapore, Kuwait, Saudi Arabia, Japan, Chile, the United States, Turkey, Iran, Vietnam, South Korea, and members of the European Union.
Stopping this dumping protects India’s domestic industry from artificially cheap imports.
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