BUSINESS
Special Economic Zones
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Rajasthan Special Economic Zone
Rajasthan Special Economic Zone is being set up with an objective to initiate infrastructural development and a hassle-free environment best suited for export trade from the state with a primary focus in the fields of gems and jewelry, woolen carpets, handicrafts, and so on.
The state government has planned up for the establishment of Rajasthan special economic zone in order to originate a nontaxable territory in the state, which will be treated as a foreign territory. The primary aim behind the establishment of the SEZ in Rajasthan is to formulate an absolutely tax free operation in industrial, service, and trade sector which will delineate more liberal policies in terms of the levies, foreign investments, and other transactions. There will be no domestic regulations, infrastructure insufficiency, and other confinements in the special economic zone of Rajasthan. An exemption from all this will create a hassle-free environment in the special economic zone which is highly advantageous for a smooth infrastructural development in every sectors in the zone. A number of SEZ schemes are also on the process to make the business and trading activities easily accessible. This will enhance the productivity of each sector as well.
The state government of Rajasthan proclaimed that the sector would work in joint venture with the private and public participation. The concept is to promote setting up of big and self-controlled region for export trade that will be supported by infrastructure of global standard. Such schemes were designed to ensure a flourishing economic and industrial growth that will give rise to a number of job opportunities and thereby bring in large dividends to the state. The development commissioner will lead the development activities in the special economic zone of the state. The state government has developed a range of SEZ policies for the industrial development in the Rajasthan SEZ, which will be powerful enough to provide an extensive theory to develop, operate, and sustain the special economic zones in state.
One of the foremost industrial developments that has been planned up by the state government to be executed by Rajasthan State Industrial Development and Investment Corporation (RIICO) in Rajasthan special economic zone is the setting up a Gems and Jewelry unit at Sitapura in Jaipur and handicraft units at Boranda in Jodhpur. Private sector participation will be exercised in both the product and multi-product specific special economic zones in some exclusive places.
There are a number of incentives being offered to the upcoming SEZ developers and units at Rajasthan Special Economic Zone. Some of these incentives for Rajasthan SEZ developers and units are listed as under:
The state government has planned up for the establishment of Rajasthan special economic zone in order to originate a nontaxable territory in the state, which will be treated as a foreign territory. The primary aim behind the establishment of the SEZ in Rajasthan is to formulate an absolutely tax free operation in industrial, service, and trade sector which will delineate more liberal policies in terms of the levies, foreign investments, and other transactions. There will be no domestic regulations, infrastructure insufficiency, and other confinements in the special economic zone of Rajasthan. An exemption from all this will create a hassle-free environment in the special economic zone which is highly advantageous for a smooth infrastructural development in every sectors in the zone. A number of SEZ schemes are also on the process to make the business and trading activities easily accessible. This will enhance the productivity of each sector as well.
The state government of Rajasthan proclaimed that the sector would work in joint venture with the private and public participation. The concept is to promote setting up of big and self-controlled region for export trade that will be supported by infrastructure of global standard. Such schemes were designed to ensure a flourishing economic and industrial growth that will give rise to a number of job opportunities and thereby bring in large dividends to the state. The development commissioner will lead the development activities in the special economic zone of the state. The state government has developed a range of SEZ policies for the industrial development in the Rajasthan SEZ, which will be powerful enough to provide an extensive theory to develop, operate, and sustain the special economic zones in state.
One of the foremost industrial developments that has been planned up by the state government to be executed by Rajasthan State Industrial Development and Investment Corporation (RIICO) in Rajasthan special economic zone is the setting up a Gems and Jewelry unit at Sitapura in Jaipur and handicraft units at Boranda in Jodhpur. Private sector participation will be exercised in both the product and multi-product specific special economic zones in some exclusive places.
There are a number of incentives being offered to the upcoming SEZ developers and units at Rajasthan Special Economic Zone. Some of these incentives for Rajasthan SEZ developers and units are listed as under:
- Exemption from all kinds of state taxes, duties, levies, and local taxes
- Proper grants and equity will be provided to the projects of SEZ by the Central Government
- One of the officers of Rajasthan State Pollution Control Board will be actively present in the office of Development Commissioner of the special economic zone of Rajasthan
- Adequacy in the supply of power to all the sectors in SEZ
- The state government is also responsible for supplying sufficient water and disposal treatments from its own resources for SEZ
- The state government is on its way to announce some units in SEZ to be termed as 'public utility services' which will be run by Industrial Disputes Act
- A fast clearance for the units and services as rendered by the SEZs
- Connectivity of national or state highways
For further information on Rajasthan Special Economic Zone please refer to the following sites:
