Special Economic Zones
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Special Economic Zones in India
Special Economic Zones in India were established in an attempt to accelerate foreign investment and endorse exports from India and recognizing the need of a global platform to expose the domestic firms and producers to the competitive world market. The announcement of formulating a Special Economic Zones policy in India was made by the government in April 2000 and was anticipated to be an overseas province for trade purposes, commercial operations, duties and taxes.
SEZs when equipped are anticipated to provide premiere infrastructure services and sustenance services, besides permitting for the tariff free import of merchandize and raw materials. Furthermore, attractive financial subsidiaries and trouble-free custom tariffs, banking and other methods are provided in such business zones. Establishing SEZs is also recognized as communications development methods.
SEZs are controlled by a three tier Organizational Set-up described as under:
SEZs are controlled by a three tier Organizational Set-up described as under:
- Supreme controlling body in the Department is known as The Board of Approval
- At district level, The Unit Approval Committee tackles with SEZs development and other associated issues
- Every district is led by a Development Commissioner, who also controls the Unit Approval Committee.
List of Special Economic Zones in India
| Special Economic Zones | Contact Details |
|---|---|
| SEEPZ Special Economic Zone | Development Commissioner, SEEPZ, Andheri (East) Mumbai-400096 Tel: 91-22-28290856, 28291388, 28290046, 28292147,28292144 Fax: 91-22-28291385,22829175 E-mail: dc@seepz.com Website: www.seepz.com |
| Kandla Special Economic Zone | Development Commissioner KSEZ,Gandhidham, Kachchh Tel: 91-2836-252194, 252273, 252194, 252475, 253300,252281 Fax: 91-2836-252250, E-mail: dc@kasez.com Web Site: http://www.kasez.com |
| Cochin Special Economic Zone | Development Commissioner, CSEZ,Kakkanad, Cochin - 682030 Tel: 91-484-2413222, 2413235, 2413111, 2413234 Fax: 91-484-2413074 E-mail: dc@csez.com Web Site: http://www.csez.com |
| Madras Special Economic Zone | Development Commissioner MEPZ Special Economic Zone, National Highway 45, Tambaram,Chennai-600045 MEPZ CHENNAI Tel:91-44-22628220, 22628230, 22628233 Fax: 91-44-2628218 Email : dc@mepz.gov.in Website : http://www.mepz.com |
| Visakhapatnam Special Economic Zone | Development Commissioner VSEZ,Duvvada, Visakhapatnam, 530046 Tel: 91-891-2754577, 2587555, Fax: 91-891-2587352 E-mail: dc@vsez.com Website : http://www.vepz.com |
| Noida Export Processing Zone | Development Commissioner NSEZ, Noida Dadri Road, Phase-II, Noida District, Gautam Budh Nagar-201305 (U.P.) Tel: from Delhi 95-120-2562315, 2567274, 2567270-73 From outside Delhi-91-120-2567270-3 Fax: 91-120-2562314, 91-2567276 Email: dcnepz@nda.vsnl.net.in Website: http://www.nepz.org |
| Falta Special Economic Zone | Development Commissioner FSEZ, M.S.O Building, 4th Floor, Nizam Palace, Kolkata-700020 Tel: 91-33-22472263, 22477923, 22404092 Fax: 91-33-22477923 Email: fepz@wb.nic.in Website: http://www.fepz.com |
| Manikanchan, Salt Lake SEZ | West Bengal Industrial Development Corporation Ltd.,5, Council House Street, Kolkata-700001 Tel:91-33-22486583, 22101536/62/63/64/65 Fax: 91-33-2248-3737 E-mail: mdbidc@vsnl.com |
| Jaipur Special Economic Zone | Chairman cum Managing Director Rajasthan State Industrial Development & Investment Corporation Ltd., (RIICO)Udyog Bhawan, Tilak Marg Jaipur-302005 Tel:91-141-2227751,5113201 Fax: 91-141-5104804 E-mail: riico@riico.com website: http://www.riico.com |
| Salt Lake Electronic City-SEZ, Kolkata | M/s. WIPRO Ltd., Wipro Infotech, Thapar House, 124, Janpath, New Delhi-110011. Tel: 91-11-23366997 Fax 91-11-23362145 |
| Mahindra City-SEZ | M/s. Mahindra Industrial Park Ltd. Arjay Apex Centre, 24, College Road, Chennai-600 006 Tel: 91-44-2821 2893 / 2894, Fax 91-44-2821 2895 E-mail: infor@mahindraworldcity.com Website:www.mahindraworldcity.com |
| Surat Special Economic Zone | Development Commissioner, Surat Special Economic Zone Diamond Park, SachinSurat-394230 Tel: 91-261-2372733, 2372734 E-mail: Maria@bom3.vsnl.net.in Website: http://www.sursez.com |
| Indore Special Economic Zone | 3/54, Press Complex, Free Press Home, H.B. Road, Indore-452008 Tel: 91-731-257229 Email - md@sezindore.com Website: http://www.sezindore.com |
Salient features of SEZs
Mentioned below are some of the salient features of Indian Special Economic Zones:- Indian SEZs are developed by government, private and joint sector, unlike its international counterparts where zones are chiefly maintained by their respective governments. This provides equal prospects to both Indian and global players.
- Government has allocated a least favorable area of 1,000 hectares for greenfield SEZs. Although, there are no limitation in context of favorable area in constructing sector specific SEZs.
- 100% of Foreign Direct Investment is allowed for all endowments in Special Economic Zones, apart from activities cataloged under the unconstructive record.
- SEZ divisions are obligatory to be encouraging net foreign exchange yielders and are not entitle to any least amount of value addition guidelines or export responsibilities.
- Commodity surge from Domestic Tariff Area (DTA) into a SEZ is recognized as exports and commodity surge into DTA from SEZ are recognized as imports.
- Full Income tax exemption for a period of 5 years and an extra 50% tax relief for additional two years.
- Manufacturing industry is allowed an FDI influx of 100% via automatic channels excluding few industries.
- Services to establish off-shore banking divisions in SEZs
- Service Tax and Central Sales Tax exemption
- External commercial lending of upto US$500 million is allowed for SEZ divisions in a year sans any maturity limitations via certified banking networks.
- No import authorization obligations.
- Services to sustain foreign exchange proof of payments of upto 100% in Exchange Earners' Foreign Currency Account.
- SEZ franchisees are allowed100% FDI in offering customary telephone facilities in the areas.
- No limitation of foreign endowments for small scale industry reticent products.
- Tax relief from sectoral authorization obligations for goods reticent for SSI industry
- Tax relief from custom tariff on import of merchandize, raw products, spare parts etc
- Tax relief from Central Excise tariff on acquirement of merchandize, raw products, spare parts etc from the local market
- No regular assessments by Customs for export and import freight.
- Capacity to comprehend and repatriate export advances within a year.
- Revenues permitted to be repatriated sans any dividend assessment needs
- Authorization for Employment prospects on behalf of local exporters for direct export.
- Authorization for off-shoring of local and global players. This service is accessible to jewelry sector also.
Benefits of SEZs
Besides offering high end infrastructure and availability to a large skilled workforce, SEZ also offers attractive incentives and advantages to firms and developers. Mentioned below are some of the benefits of Indian Special Economic Zones:
