The Special Economic Zone is a clearly defined area governed as per the SEZ Act 2005 of Government of India.

SEZ norms

To curtail business shortcomings, the absence of modern infrastructure and the unstable fiscal regime, the SEZ policies were carefully listed. These norms aim to drive business at the centre and state level, with the minimum possible regulations. Foreign investors continue business transactions without worrying about multiple controls and clearances.

For more information:
www.sezindia.nic.in

Industrial policy

To facilitate progress and enhance overall business growth, the Government of India put down a series of Industrial Policies. Since industrialization is viewed as the engine of growth, these policies encourage companies to operate key industries and ensure development in the interest of the whole population.

For more information:
www.dipp.nic.in

Below are some major SEZ Benefits

  • Duty-free import / export of goods and services during Pre-Construction, Construction, Operation and Maintenance of unit by the entrepreneur
  • Single window clearance for Govt. Approvals through Development Commissioner (DC) office at SEZ and Zone level Stamp duty waiver
  • Access to International funds and interest rates
  • Foreign Direct Investment allowed through automatic route
  • Full freedom to sell regular and surplus production in India
  • Full freedom for subcontracting/job work from outside SEZ
  • Savings in time and effort at ports (all customs clearance at gate of SEZ)
  • Export and Import of Cargo on self certification basis, No routine inspections
  • Increased safety and security due to controlled ingress and egress of men and material via valid id cards and passes
  • Labour laws are delegated to DC office and are relaxed for SEZs as per Prevailing SEZ statutes

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