| Broad objectives
for introduction of SEZ are as follows:
- Attract Foreign Direct Investment (FDI)
- Earn foreign exchange and contribute to exchange rate
stability
- Boost the export sector, especially non traditional exports
- Create employment opportunities
- Introduce new technology
- Develop backward regions
- Stimulate sectors such as Electronics, IT, R & D, Tourism,
Infrastructure and Human Resource Development
- Create backward & forward linkages
Features of SEZ:
- No License required for import
- Manufacturing, trading or services activities allowed
- Full freedom of subcontracting
- No routine examination of export import cargo by customs
authorities
- Positive Net Foreign Exchange Earner
- Financial incentives like tax holidays, duty free imports
and exports
- Single Window Clearance
- High quality infrastructure
- Strategic location and market access
Entities that can operate in India as SEZ
- Proprietorship
- Partnership
- Private limited companies
- Public limited companies
- HUF
- Trusts
- Co-operative societies
- Foreign Entities
Other Core Participants
- SEZ Entrepreneurs - One who sets up units
in SEZ
- Offshore Banking Unit - Branch of Indianbanks and Foreign
banks located in SEZ
- International Financial Service Centre - It is an agency
which facilitates range of cross border financial services
- Central Government and State Government
Proposal not considered under SEZ
- Recycling of plastic scrap or waste
- Reprocessing of garments
- Import of other used goods for recycling
- Export of Special Chemicals, Organisms, Materials, Equipment
and Technologies
- Use of any plant or machinery previously used for any
purpose in Domestic Tariff Area
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