Budget

Infotech

If there is one science that will dominate the 2lst century, it is information technology. If there is one industry in which India can emerge as a world leader, it is information technology. However, for this potential to be realised we need a completely new policy for manufacturing and marketing IT products. The Electronic Hardware Technology Park (EHTP) Scheme, presently in force, gives limited flexibility. There is an imperative need to increase production volumes and attract foreign direct investment. Accordingly, it has been, decided that EHTP/EOU/EPZ units in electronic hardware may be permitted to sell one half of the value of their products, during any 12 month period, in the domestic market and export the other half. The sale in the domestic market will be on payment of excise duty equivalent to full customs duty, including the additional duty of customs. Details of the new unified manufacturing scheme will be incorporated in the new EXIM policy that will be effective from April 1 1997.