Key Points of Isuzu Motors Exports Via MOOWE Scheme:
- Isuzu Motors India has started exporting vehicles to overseas markets under the MOOWR scheme.
- Isuzu is the first automaker to set up a unit at Sri City in Tada, approximately 100 kilometers from Chennai.
- The roll-out of the vehicle was marked by the Additional Commissioner of Customs, Vijayawada Sadhu Narasimha Reddy.
- Isuzu Motors India MD Rajesh Mittal and Deputy MD Toro Kishimoto were also present at the event.
- The MOOWR Scheme provides an advantage to OEMs for exports, said Mittal.
- Isuzu Motors India has a MOOWR warehouse in addition to the storage area inside its plant premises.
- The MOOWR scheme exempts duty when the finished product is exported and defers duty when vehicles are intended to be sold in the domestic market.
Details of Isuzu Motors Exports Via MOOWE Scheme:
Isuzu Motors India has started exporting its vehicles to overseas markets under the Centre’s Manufacturing and Other Operations in Warehouse Regulation (MOOWR) scheme. The company is the first automaker to set up a unit at Sri City in Tada, located approximately 100 kilometers from Chennai, and has begun its exports.
The roll-out of the vehicle was marked by the Additional Commissioner of Customs, Vijayawada Sadhu Narasimha Reddy. Isuzu Motors India Managing Director Rajesh Mittal and Deputy Managing Director Toro Kishimoto were also present at the event.
Sri City founder-managing director Ravindra Sannareddy expressed his admiration for Isuzu’s initiative to create employment for 80% of people in line with government policy and contribute to the socio-economic growth of the region.
The MOOWR Scheme provides an advantage to original equipment manufacturers (OEMs) for exports, said Mittal, who also conveyed his thanks to Sadhu Narasimha Reddy for giving excellent support and encouragement during the course of the implementation of the scheme.
Isuzu Motors India has a MOOWR warehouse in addition to the storage area inside its plant premises, making it one of the automobile OEMs to have this setup. The MOOWR scheme, introduced by the Centre in 2019, allows 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, and duty is deferred when vehicles are intended to be sold in the domestic market, according to the statement.
About Isuzu Motors:
Isuzu, a Japanese multinational automobile manufacturer, with its headquarters in Nishi-ku, Yokohama, Japan, is commonly known for producing and marketing commercial vehicles and diesel engines. The primary function of Isuzu is the production, marketing, and sales of commercial vehicles and diesel engines.
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