TThe Export Oriented Units (EOUs) are quite prominent in every developed and developing economy for earning a large amount of foreign money every year. The sectors these EOUs are established differ from country to country, because of being dependent on their specific expertise, development policies and priorities, and favorable business facilities available in the countries. These EOUs can be set up for processes of repairing, re-making, re-engineering, or reconditioning of products or services in the concerned fields.
The EOU policy and scheme was introduced in India in the year 1980, for the ultimate purpose of augmenting exports by creating additional production capacity in the country. Today, EOUs contribute about 10% of India’s total export, and it is steadily growing at the export growth rate of over 25% every year. These Export Oriented Units (EOUs) and Special Economic Zones (SEZs) command better infrastructural facilities for export-quality production, and internationally competitive duty free environment. The establishment policies for EOUs are described in the Chapter-6 of the Foreign Trade Policy of India.
For eou registration india, the most prominent and popular fields are - agriculture, bio-technology, floriculture, horticulture, IT software and services, animal husbandry, aquaculture, viticulture, sericulture, granites, poultry, etc.
The registration for EOUs is made with the permission of the concerned Development Commissioner of the area where the unit is to be established, and the Ministry of Commerce and Industry of the country. However, the eou registration requirements vary from country to country, as also do the eou registration procedure and processes. Our well-connected service organization provides well-rounded help and advice to the entrepreneurs, industrialists, companies, and investors over their eou registrations in India and abroad, expeditiously and economically.
For eou registration india, the following are the eou registration requirements:
The prescribed application form in triplicate, given in the Handbook of Procedures in Appendix 14-1A, is to be submitted to the concerned Development Commissioner Office, and the Department of Commerce (Ministry of Commerce and Industry), Udyog Bhawan, New Delhi. A demand draft for Rs. 5,000/- is also to be drawn in favor of The Pay & Accounts Officer of this office. Enclosures requisite with this application form include all information about the business structure and location, its ownership and management, detailed business plan and strategy, Field of business activity, production processes and technology used, finances, information about overseas markets, production infrastructure and facilities, etc.
The documents required by the concerned Development Commissioner for approval to the proposed EOU under its jurisdiction, are described in the Appendix 14-1B. After acquiring necessary approval from this office, the entrepreneur has to apply to the Deputy Commissioner of the Customs/Central Excise, for getting a Private Custom Bonded Warehouse License under the Sections 58 and 65 of the Customs Act, 1962.
The eou registrations are commonplace and ever-growing in most of the developing countries of the world. The developed countries already have a large number of EOUs in diverse sectors, which have been earning huge foreign exchange from all across the world for a long time. The well-established EOUs of US, France, Germany, Korea, China, India, Australia, Brazil, etc., have been drawing huge foreign exchange from developing and emerging economies of all around the world in fields of their exclusive expertise. Our service organization has been providing complete services for eou registrations in these all countries, and necessary facilitations for doing international and worldwide business.