N. Mathivanan, Partner, Lakshmi Kumaran and Sridharan, addressed the 7th International SEZ Convention organized by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) at New Delhi on 27-7-2011. Senior representatives from the industry, government officials and delegates from SEZs of foreign countries participated in the Convention.
Mr. Mathivanan discussed various legal and operational issues surrounding the SEZs, including axing of income tax benefits. He spoke about complications arising out of claiming refund of service tax paid on services provided to an SEZ.
Mr. Mathivanan gave an introduction to the concept of Free Trade Warehousing Zones (FTWZ), which is still in the nascent stage in India. He emphasized the need for a strong set of rules to regulate the operations of FTWZs in order to develop India into an international trading hub. In his discussion, Mr. Mathivanan touched upon the related aspects of operating an SEZ and in particular, corporate structuring and finance as a measure of increasing efficiency as an SEZ.
Eminent speakers from the industry as well as the Government addressed the convention. Dr. Rahul Khullar, Commerce Secretary, Govt. of India delivered the inaugural address. Other eminent speakers included Mr. Rajiv Banga, from Mangalore SEZ Ltd and Mr. B.R. Meena, from APIIC.