The commerce ministry is planning to further liberalise norms for special economic zones, by permitting units in the SEZs to raise external commercial borrowings without any cap on the maturity period.
Senior commerce ministry officials told Business Standard that the matter has been discussed with the Reserve Bank of India and a notification will be issued soon.
At present, the units can raise ECBs with maturity of three years and above but the government is now planning to permit units in the SEZs to raise capital abroad without putting a restriction maturity, sources said.