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Special Economic Zones
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Kerala Special Economic Zone
Kerala Special Economic Zone is one of the profitable special economic zones in India, known for its export-oriented manufacturing units. The concept of special economic zones in different states of India was introduced in the year 2000. The Indian government amended the Exim Policy and the Customs Act, 1962 defining these areas as foreign territory, outside the Customs territory of India for the purpose of trade activities.
The main effort of the government is to provide duty-free territories, highly developed infrastructure, attractive packages of FDI, for the operations of the SEZs in the global market.
Under the new amended version of the policies these zones will include 1000 hectares or more and are planned to comprise self-contained facilities of an integrated industrial township. For this purpose even 100% of foreign investments in the housing, hotels, resorts, commercial premises, dispensary, roads, parks, and bridges are allowed. Moreover the Indian government also granted income tax concessions and customs and excise duties exemption for further development of the SEZ.
In the state of Kerala, Indian government played a big role in the development of the special economic zone at Cochin initially and followed by some other zones in different parts of the state. Of all the other regions of Kerala, Cochin enjoys a strategic advantage for its geographical position. Cochin is only 12 nautical miles away from the Pacific Rim to Europe in the international maritime highway. There are major International Air Routes connecting this state with other corners of the world. With the provision for export-oriented production for world market and being offered all the facilities and world-class infrastructure, there is no doubt that Kearla has the potentiality to generate rich dividends and increase employment opportunities.
The first SEZ in Kerala is at Cochin along with this the Indian government took up the task of transforming the Greater Cochin SEZ by including more phases of the CSEZ at Cochin Port and Cochin Airport. They have also taken up plans to form along the Airport-Seaport Highway, a customs-bonded industrial area that will inter connect the two and form an Industrial Corridor for the Cochin Special Economic Zone. The main motive behind this is to construct at Cochin a free port and a multi-modal logistics hub. Apart from the Cochin SEZ the Government have also announced to set up 3 other Industrial Development Zones at Kanjikode (Palakkad), Thiruvananthapuram, and Kozhikode, with the future planning that these IDZs may be converted to SEZs later. For this, the state government of Kerala has formulated a Kerala Govt. SEZ Policy.
The implementing agency working in the Kerala Special Economic Zone is the KINFRA, which will be responsible for the enforcement of the necessary requirements either on its own or jointly with the private sector partners. The KSIDC or the KINFRA is also permitted to convert the land cost within the SEZ area. This nodal agency is also known as the SEZ Developer who will fund, market, develop, and maintain the SEZs.
To get further details on the Kerala Special Economic Zone, please search through the following link:
Under the new amended version of the policies these zones will include 1000 hectares or more and are planned to comprise self-contained facilities of an integrated industrial township. For this purpose even 100% of foreign investments in the housing, hotels, resorts, commercial premises, dispensary, roads, parks, and bridges are allowed. Moreover the Indian government also granted income tax concessions and customs and excise duties exemption for further development of the SEZ.
In the state of Kerala, Indian government played a big role in the development of the special economic zone at Cochin initially and followed by some other zones in different parts of the state. Of all the other regions of Kerala, Cochin enjoys a strategic advantage for its geographical position. Cochin is only 12 nautical miles away from the Pacific Rim to Europe in the international maritime highway. There are major International Air Routes connecting this state with other corners of the world. With the provision for export-oriented production for world market and being offered all the facilities and world-class infrastructure, there is no doubt that Kearla has the potentiality to generate rich dividends and increase employment opportunities.
The first SEZ in Kerala is at Cochin along with this the Indian government took up the task of transforming the Greater Cochin SEZ by including more phases of the CSEZ at Cochin Port and Cochin Airport. They have also taken up plans to form along the Airport-Seaport Highway, a customs-bonded industrial area that will inter connect the two and form an Industrial Corridor for the Cochin Special Economic Zone. The main motive behind this is to construct at Cochin a free port and a multi-modal logistics hub. Apart from the Cochin SEZ the Government have also announced to set up 3 other Industrial Development Zones at Kanjikode (Palakkad), Thiruvananthapuram, and Kozhikode, with the future planning that these IDZs may be converted to SEZs later. For this, the state government of Kerala has formulated a Kerala Govt. SEZ Policy.
The implementing agency working in the Kerala Special Economic Zone is the KINFRA, which will be responsible for the enforcement of the necessary requirements either on its own or jointly with the private sector partners. The KSIDC or the KINFRA is also permitted to convert the land cost within the SEZ area. This nodal agency is also known as the SEZ Developer who will fund, market, develop, and maintain the SEZs.
To get further details on the Kerala Special Economic Zone, please search through the following link:
