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A policy
was introduced on 01.04.2000 for setting up of Special Economic Zones in
the country with a view to provide an internationally competitive and
hassle free environment for exports. Units may be set up in SEZ for
manufacture of goods and rendering of services. All the import export operations
of the SEZ units will be on self-certification basis. The units in the
Zone have to be a net foreign exchange earner but they shall not be
subjected to any pre-determined value addition or minimum export
performance requirements. Sales in the Domestic Tariff Area by SEZ units
shall be subject to payment of full Custom Duty and import policy in
force. Further Offshore banking units may be set up in the SEZs.
The policy provides for setting up of SEZ's in the public, private,
joint sector or by State Governments. It was also envisaged that some of
the existing Export Processing Zones would be converted into
Special Economic Zones. Accordingly, the Government has converted Export
Processing Zones located at Kandla and Surat (Gujarat), Cochin (Kerala),
Santacruz (Mumbai-Maharashtra), Falta (West Bengal), Madras (Tamil Nadu),
Visakhapatnam (Andhra Pradesh) and Noida (Uttar Pradesh) into a Special
Economic Zones. In addition, 3 new Special Economic Zones approved
for establishment at Indore (Madhya Pradesh), Manikanchan – Salt Lake
(Kolkata) and Jaipur have since
commended operations.
In
addition, approval has been given for setting up of 42 Special Economic
Zones in various parts of the country in the private/joint sectors or by
the State Government.
Distinguishing
Features
Indian SEZ
policy has following distinguishing features:
a) The
zones are proposed to setup by private sector or by state Govt. in
association with Private sector. Private sector is also invited to
develop infrastructure facilities in the existing SEZs
b) State
Government have a lead role in the setting up of SEZ.
c) A
framework is being developed by creating special windows under existing
rules and regulations of the Central Govt. and State Govt. for SEZ.
Performance
As on 31.3.05, there are 811 units in operation in the 8
functional SEZs. Investment by the units in these Zones are of the order
of Rs. 18309 million.
The SEZ units provide employment to about 100650
persons out of which
32185 are Females.
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Source :
Internet Search Engine Results
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