Chennai, Apr 4 (PTI) Automajor Isuzu Motors India on Tuesday commenced shipment of its vehicles to overseas markets under the Centre's Manufacturing and Other Operations In Warehouse Regulation scheme.

Isuzu Motors India, which was the first customer to set up a unit at Sri City at Tada about 100kms from here, has commenced its exports, an official said.

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Additional Commissioner of Customs, Vijayawada Sadhu Narasimha Reddy waved the flag marking the roll out of the vehicle in the presence of company officials including Isuzu Motor India managing director Rajesh Mittal, deputy managing director Toro Kishimoto on Tuesday.

Isuzu Motors India is the first automaker to set up a unit and we were particularly happy that it (exports) did so through Sri City, Sri City founder-managing director Ravindra Sannareddy said in a statement.

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"I admire their initiative to create 80 per cent employment for people, in line with government policy, and to contribute their bit to the socio-economic growth of the region," Reddy said.

Commenting on the MOOWR Scheme, Mittal said it provides an advantage particularly to original equipment manufacturers (OEMs) to exports.

"I convey our sincere thanks to Sadhu Narasimha Reddy for giving excellent support and encouragement during the course of the implementation of the scheme," Mittal said.

"Isuzu Motors India is one of the automobile OEMs to have a MOOWR warehouse in addition to the storage area inside its plant premises," he said.

The Manufacturing and Other Operations in Warehouse Regulation scheme (MOOWR) introduced by the Centre in 2019 facilitates 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, the statement said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)