Special Economic Zones
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Uttar Pradesh Special Economic Zone
The Uttar Pradesh Special Economic Zone would have a rapid and sustainable growth. The State of Uttar Pradesh is an industrially developed state and the policies of the State government pertaining to the Uttar Pradesh Special Economic Zone are oriented towards the development of industries in the state of Uttar Pradesh and transform the state into a major industrial hub. The development of the Uttar Pradesh Special Economic Zone has been offered to the private sector that was due to the restructuring of the policies pertaining to special economic zones in Uttar Pradesh.
The State Government of Uttar Pradesh for the purpose of providing approval for the SEZ introduced the Uttar Pradesh Special Economic Zone Act, 2002. The well-formulated Uttar Pradesh Special Economic Zone Policy was devised for the smooth functioning of the Uttar Pradesh Special Economic Zone.
The Uttar Pradesh Special Economic Zone is being developed on the basis of SEZ unit at Shanghai in China. The world standard infrastructure facilities at the SEZ and global standard SEZ products requires assistance from the best private sector companies in India in terms of investments. The Central government of India has sanctioned four SEZ units in Uttar Pradesh and 10 more SEZ propositions are provided with probationary sanctions. The first four units of SEZ would be implemented in Noida, Moradabad and the two remaining ones would be developed by WIPRO and HCL in Noida.
The Uttar Pradesh Special Economic Zone Policy provides the promoters and the investors with a unique double way exemptions and incentives plan. The development plan pertaining to the Uttar Pradesh SEZ is divided into three categories based on the regions. The first category or the Category A covers Greater Noida and Noida, the second category or Category B are those developed within the legal dominance of the development authorities and the third category or Category C is pertaining to the different other areas. The premiere organizations pertaining to the development of the SEZ units are Greater Noida Development Authority for Greater Noida, Noida Development Authority for Noida, and Uttar Pradesh State Industrial Development Corporation for the SEZ units in Category C.
Law and order: The State Government of Uttar Pradesh would be taking appropriate and measures
Taxes, duties, local taxes levied by the State Government of Uttar Pradesh: All kind of taxes levied by the State Government of Uttar Pradesh including sales tax, purchase tax, cess, octroi, etc. related to the supply of services and goods are exempted
Water Supply: The area of the special economic zone would have adequate supply of water as suggested by the administrative authority of the SEZ
Power Supply: The area of SEZ would have continuous supply of power and also have back up power service in case of stand by situations
Registration of SSI and IT enabled services: The administrative authorities are empowered to grant permanent and provisional registration for the small-scale industry and information technology enabled service units.
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The State Government of Uttar Pradesh for the purpose of providing approval for the SEZ introduced the Uttar Pradesh Special Economic Zone Act, 2002. The well-formulated Uttar Pradesh Special Economic Zone Policy was devised for the smooth functioning of the Uttar Pradesh Special Economic Zone.
The Uttar Pradesh Special Economic Zone is being developed on the basis of SEZ unit at Shanghai in China. The world standard infrastructure facilities at the SEZ and global standard SEZ products requires assistance from the best private sector companies in India in terms of investments. The Central government of India has sanctioned four SEZ units in Uttar Pradesh and 10 more SEZ propositions are provided with probationary sanctions. The first four units of SEZ would be implemented in Noida, Moradabad and the two remaining ones would be developed by WIPRO and HCL in Noida.
The Uttar Pradesh Special Economic Zone Policy provides the promoters and the investors with a unique double way exemptions and incentives plan. The development plan pertaining to the Uttar Pradesh SEZ is divided into three categories based on the regions. The first category or the Category A covers Greater Noida and Noida, the second category or Category B are those developed within the legal dominance of the development authorities and the third category or Category C is pertaining to the different other areas. The premiere organizations pertaining to the development of the SEZ units are Greater Noida Development Authority for Greater Noida, Noida Development Authority for Noida, and Uttar Pradesh State Industrial Development Corporation for the SEZ units in Category C.
Features of Uttar Pradesh SEZ Policy are-
- The methods used in the acquisition of lands are highly effective and time conserving
- The use of single window system pertaining to granting of permits and approvals based on the issues such as work force and environment
- The exemptions pertaining to registration fees and stamp duties
- The exemptions from different kinds of tariffs, local and state duties, and taxes pertaining to the functions in the special economic zones
- Permission pertaining to the setting up of power generation units by the manufacturing units for their own use
Issues of Uttar Pradesh Special Economic Zone are-
- Noida Special Economic Zone(NSEZ)
- Uttar Pradesh SEZ Policy
