Wheat is the Meaning of export oriented unit?

Answer 1

EXPORT ORIENTED UNIT SCHEME

The purpose of the scheme was basically to boost exports by creating additional production

capacity. Under this scheme, the units undertaking to export their entire production of goods

are allowed to be set up. These units may be engaged in the manufacture, services,

development of software, trading, repair, remaking, reconditioning, re-engineering

including making of gold/silver/platinum jewellery and articles thereof, agriculture

including agro-processing, aquaculture, animal husbandry, bio-technology, floriculture,

horticulture, pisciculture, viticulture, poultry, sericulture and granites. The EOUs can export

all products except prohibited items of exports in ITC (HS).

Under the EOU scheme, the units are allowed to import or procure locally without

payment of duty all types of goods including capital goods, raw materials, components,

packing materials, consumables, spares and various other specified categories of

equipments including material handling equipments, required for export production or in

connection therewith. Even the goods appearing in the restricted list of the EXIM Policy

(1997-02) are permitted to be imported. However, the goods prohibited for import are not

permitted. In the case of EOUs engaged in agriculture, animal husbandry, floriculture,

horticulture, pisciculture, viticulture, poultry, sericulture and granite quarrying, only

specified categories of goods mentioned in the relevant notification have been permitted to

be imported duty-free.