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Exports by EOUs grow by 83 per cent

By Our Staff Reporter

BANGALORE, JUNE 22. The financial year 2003-04 saw Karnataka's 270 exporting units generating exports worth Rs. 7,600 crore, registering a growth rate of 83 per cent as compared with the preceding year's performance of Rs. 4,141 crore.

The Development Commissioner, Cochin Special Economic Zone, Paul Anthony, who has administrative control over the 100 per cent export-oriented units (EOUs) in Karnataka, Kerala, Lakshadweep and Mahe, told presspersons that the EOUs in Karnataka spanned a whole range of sophisticated industries, including garments, minerals, electronics, textiles, software, agro- and food-processing, engineering and services.

Rajesh Exports Ltd, with exports worth Rs. 2,293 crore of gold coins and medallions is the leading exporter, and Kudremukh Iron Ore Company Ltd. with Rs. 840 crore worth of exports of iron ore and concentrate came second with Rs. 840 crore. The garments major Gokaldas Exports stood third with exports of Rs. 447 crore.

Mr. Anthony said most of the EOUs were located in Bangalore and the Customs Department had created a separate EOU division under the Customs Commissionerate, Bangalore. This was the only such division in the whole country, with 229 units attached to it. Those units contributed Rs. 6,383 crore worth of exports.

Karnataka saw a spurt in exports by the existing licensees of the division and a quantum jump in the number of units. As many as 113 new licences (33 EOUs, 75 software technology parks, and five electronic hardware technology parks) were issued by the division office during 2003-04. Software exports grew by 46 per cent, and hardware exports by 21 per cent. The Union Government had forgone customs and central excise duty of approximately Rs. 2,357.47 crore during 2003-04 in the case of EOUs.

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