Additional Commissioner of Customs, Vijayawada flags off
Sri City, April 4, 2023: A MOOWR export vehicle was flagged off on Tuesday at a ceremony hosted at the Isuzu Motors India plant. Mr. Sadhu Narasimha Reddy, Additional Commissioner of Customs, waved the flag in the presence of Dr. Ravindra Sannareddy, the Founder Managing Director, Sri City, Mr. Rajesh Mittal, Managing Director, Isuzu Motors India (IMI), Mr. Toru Kishimoto, Deputy Managing Director, IMI, and Mr. Hiroshi Matsubara, President, MC India. Before this, following the formal unveiling by Dr. Ravindra Sannareddy and Mr. Narasimha Reddy, the very first MOOWR export vehicle made its debut.
While addressing the audience, Mr. Narasimha Reddy congratulated the Isuzu team for reaching yet another milestone and wished ‘all success’ in their future endeavours. Briefing about the MOOWR scheme, he said that the Central Board of Indirect Taxes and Customs (CBIC) launched the scheme to defer the Customs duties on imported goods that are used for the intended purposes of manufacture or carrying out other activities. The scheme is aimed at transforming India into a competitive manufacturing location and an attractive investment destination.
Dr. Ravindra Sannareddy complimented the Isuzu team and expressed delight over IMI’s quick development. He said that IMI was the first automaker to set up a unit in Andhra Pradesh, and we were particularly happy that it did so through Sri City. “I admire their initiative to create 80% employment for people of AP, in line with government policy, and to contribute their bit to the socioeconomic growth of the region,” he added.
Mr. Rajesh Mittal said that the MOOWR scheme provides an advantage, particularly for OEMs like Isuzu Motors India (IMI), who are also into exports. “I convey our sincere thanks to Mr. Narasimha Reddy for giving excellent support and encouragement during the course of the implementation of the scheme. IMI is one of the automobile OEMs to have a MOOWR warehouse in addition to the storage area inside its plant premises. It is noteworthy that the application to commencement of operations stage has been achieved within a very short span of time. The officers and bureaucrats from the Union and state governments, who are easily approachable, have guided us. The Sri City team has been very helpful and always proactive in assisting us,” he added.
Speaking on the occasion, Mr. Toru Kishimoto thanked the Sri City and State Government for giving excellent support.
Manufacturing & Other Operations In Warehouse Regulation (MOOWR), a scheme introduced in 2019 by the Government of India, facilitates Indian manufacturers to import materials without paying duty under customs act at the time of import of materials. The duty commitment is exempted when the finished product is exported/duty is deferred when vehicles are intended to be sold in the Indian market. The manufacturer must store and follow strict process controls on duty unpaid imported material.
About Isuzu Motors India
Japanese utility vehicle manufacturer, Isuzu Motors India, began its manufacturing operations in April 2016 in Sri City, with a strong focus on quality and commitment to the Indian market. It invested Rs. 1500 crores of investment with an annual production capacity of 50,000 units. It makes and sells popular ISUZU D-MAX V-Cross, India’s First Lifestyle and Adventure Pick-up, the ISUZU mu-X, a premium 7-seater SUV in the personal vehicle segment, and variants of ISUZU D-MAX pick-ups – S-CAB and Regular Cab, for the commercial segment. Total employee strength is over 1500, of which 18% is women workforce. It has already created 80% local employment in the AP state.
