Dear Members and Readers,

At the outset, I heartily thank our past Chairman Shri Bhuvnesh Sethji for leading the EPCES for the last four years and bringing back the EPCES on the right track. I took over as Chairman from Shri Seth in March 2023 on completion of his two-year term. So, all credit goes to him for activities and achievements of the council during 2023-24. I express my heartfelt gratitude to him.

Year 2023 has been a challenging year as global trade dipped 3% to $31 trillion due to lower demand in developed economies and weaker trade in East Asia and Latin America. India clocked $437 bn goods (-3.1%) and $341 bn (+4.9%) services exports in 2023-24. India’s imports of goods and services were $678 bn (-5.3 %) and $178 bn (-2%), respectively.

During the year, EPCES undertook a number of activities. EPCES organised International Seminar on SEZs in New Delhi on 26.3.2024 under the chair of Additional Secretary, Dept of Commerce in association with the International Research Consortium of research institutions. A stakeholder consultation regarding the new SEZ Rule 11B was also organised. EPCES participated in the Ministry’s regular meetings with EPCs and the Board of Trade meeting held in New Delhi on 14.1.2024. Regional offices also held capacity building seminar on trade finance and other areas of interests to SEZs and EOUs.

The Ministry of Commerce and Industry’s recent decision to extend benefits under the Remission of Duties and Taxes on Export Products (RoDTEP) Scheme for companies in SEZs and EOUs has brought in some cheer to the exporters. Significant progress has also been made towards implementing ICEGATE in SEZs so that the RoDTEP benefits may flow to SEZ units.

My association with the World Free Zones Organisation has brought us closer to several global multilateral trade bodies such as UNCTAD, World Customs Organisation, International labour Organisation, OECD, who can be partners in our growth story.

With Hon’ble Shri Narendra Modi assuming the charge of Prime Minister again, EPCES hopes that the long pending reforms in SEZs through amendment in SEZ Act will be carried out by enabling DTA sale on duty foregone principle and payment in INR for DTA supply of services.

You will be happy to know that the membership of the council has increased from 3029 in 2019-20 to 5967 in 2023-24.

I am sure the members and readers will come to know more about EPCES activities and its Accounts during 2023-24 though this Annual report.