Benefits Of Setting Up An Export-Oriented Unit In India

India has rapidly emerged as a global hub for export manufacturers and has retained a dominant position globally due to several enticing benefits, such as a supportive ecosystem, government policies, skilled labour pools, competitive costs and availability of world-class infrastructure. As schemes such as the Export Oriented Units ("EOU") scheme, Electronics Hardware Technology Park ("EHTP") scheme, Software Technology Park ("STP") scheme and Bio-Technology Park ("BTP") scheme for manufacturing of goods, re-making, reconditioning, re-engineering, rendering services and development of software which were aimed at promoting exports, attracting investments for export production, and enhancing the foreign exchange earnings of the country by creating additional production capacity. Amongst all the existing schemes under the Foreign Trade Policy, 2023 ("FTP"), the EOU scheme has gained noteworthy popularity amongst manufacturers owing to the distinct benefits and