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A special primer on Special Economic Zones in India Via Seznews.com

What is a Special Economic Zone?

Special Economic Zone (SEZ) is a specifically delineated duty free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs in India.

Who can set up SEZs?

Any private/public/joint sector or State Government or its agencies can set up Special Economic Zone (SEZ).

Can Foreign Companies set up SEZs ?

Yes

Are there any terms & conditions for setting up of SEZ ?

Only units approved under SEZ scheme would be permitted to be located in SEZ. The SEZ units shall abide by local laws, rules, regulations or bye-laws in regard to area planning, sewerage disposal, pollution control and the like. They shall also comply with industrial and labour laws as may be locally applicable. Such SEZ shall make security arrangements to fulfill all the requirements of the laws, rules and procedures applicable to such SEZ.

The Multi-Product SEZs should have a minimum area of 1000 hectares and at least 35 % ( now it is proposed to increase it to 50% by some state governments) of the area is to be earmarked for developing industrial area for setting up of units. IT  & ITES SEZs can be established in an area minimum 10 Hectares and above. Minimum area of 1000 hectares will not be applicable to product specific and port/airport based SEZs . Wherever the SEZs are landlocked, an Inland Container Depot (ICD) will be an integral part of SEZs.

Whether SEZs have been exempted from Labour laws?

Normal Labour Laws are applicable to SEZs, which are enforced by the respective state Governments. The state Government have been requested to simplify the procedures/returns and for introduction of a single window clearance mechanism by delegating appropriate powers to Development Commissioners of SEZs.

SEZ- IT/ITES Sector – Write to us on contact@goco.in to know more about the following :

• Legislation and Administration

• Law & Administration

• Objectives

• Features

• Overview

• Cost Benefits

• Incentives – Income Tax

• Incentives – Other Taxes

• Issues and Challenges

We have on offer Warmshell and Plug & Play office space in IT/ITes SEZ’s for Lease/Rent .                   For specific requirement in terms of Size/Location and budget preferences, please write to contact@goco.in and a specific listing will be sent to you as per your requirement.

Looking for an Office in IT/ITes SEZ in India ? CONNECT TODAY !