Isuzu flags off MOOWR export vehicle

Hyderabad: Japanese utility vehicle manufacturer, Isuzu Motors India on Tuesday flagged off its MOOWR export vehicle at an event held at Isuzu Motors India plant at Sri City in Andhra Pradesh.

Manufacturing and Other Operations in Warehouse Regulation (MOOWR), a scheme introduced in 2019 by 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 or duty is deferred when vehicles are intended to be sold in the Indian market.

Sadhu Narasimha Reddy, Additional Commissioner of Customs, Vijayawada waved the flag in the presence of Dr Ravindra Sannareddy, the Founder and Managing Director, Sri City; Rajesh Mittal, Managing Director, Isuzu Motors India (IMI); Toru Kishimoto, Deputy Managing Director, IMI and Hiroshi Matsubara, president, MC India.

Addressing the audience, Sadhu Narasimha Reddy congratulated the Isuzu team for reaching yet another milestone, and wished them 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, he added.

Dr Ravindra Sannareddy complimented the Isuzu team over IMI’s rapid development. He said that IMI was the first automaker to set up a unit in Andhra Pradesh. “We were happy that IMI did so through Sri City. I admire their initiative to create 80 per cent employment for people of AP, in line with government policy, and to contribute their bit to the socioeconomic growth of the region,” he added.

Speaking about the advantage of MOOWR scheme, Rajesh Mittal said that the scheme provides an advantage, particularly for OEMs like Isuzu Motors India (IMI), who are also into exports. “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 short span of time. The officers and bureaucrats from the Union and State governments, who are easily approachable, have guided us. Sri City team has been very helpful in assisting us,” he added.

Toru Kishimoto thanked the Sri City and State Government for their support.