To encourage investments in Deep Sea Fishing Sector, the Government of India has liberalised its policies and simplified its procedures. Under the liberalised policy, the percentage of foreign equity has been increased and clearances are expediated. Also Deep Sea Fishing projects can be registered under 100 per cent EOU Scheme. Capital and dividends are repatriable. 51 per cent foreign equity is generally allowed.
Foreign equity can be by way of vessel also.
Employing of foreign experts permitted. Simplified procedure is adopted. A 100 per cent Export Oriented Unit has to export the entire quantity except permitted quantities of non-exportables and rejects. No excise duty is levied on capital goods, spares, raw materials purchased from domestic market. Profits exempted from corporate income tax for a block of five years in the first eight years of operations.