SPECIAL ECONOMIC ZONE (S.E.Z.) IN

INDIASubtitle

Introduction to S.E.Z. Special Economic Zone means an area that has been specified

as an enclave that is duty free and is treated as a foreign territory for various purposes such as tariffs, trade operations, and duties.

Special Economic Zone means to give special facilities to the entrepreneur. In SEZ special facilities are provided to the industrialist, who starts their business in this sector. Special facilities for taxes, visa will require in this zone.

In SEZ all import duty, taxes and other taxes are given concession and supplying industrial service and other trade activities, treated as foreign country.

In SEZ special cities are developed, it has its own airport and port, roads etc. included.

The Objectives of S.E.Z.1. To develop infrastructure facilities in the country.2. To increase employment through SEZ.3. To reduce imbalance in financial development4. To improve international trade and get foreign currency with the help of

SEZ.5. To develop the country through the development of industrial and

economical growth.6. To attract the foreign investment 7. To give the facilities to the internal trade and business with the help of the

SEZ.8. Generation of additional economic activity9. Promotion of exports of goods and services10. Promotion of investment from domestic and foreign sources

Types of S.E.Z. in India1. SEZ for multi-products 2. SEZ for special sector 3. SEZ for port or airport

The Advantages of S.E.Z. in India1. Exemption from duties on all Import duties, excise /VAT, and other Taxes.2. Income tax holidays on business income.3. Abundant supply of technically skilled manpower.4. Abundant supply of semi-skilled labor across all industry sectors.5. Simplification of procedures and self-certification in the labor acts.6. A vibrant industrial city with abundant supply of skilled manpower,

covering the entire spectrum of industrial and business expertise.7. Well connected with network of public transport, local railways and cabs.8. Pollution free environment with proper drainage and sewage system.9. Easy access to airport and local Railway Station.10. Allowed to carry forward losses

The Disadvantages of S.E.Z. in India1. Farmers will be landless2. Increase unemployment3. The existence of small scale industries is in risk4. The agricultural sector will be neglected5. lost revenue of government for tax free facilities6. Capitalism will take birth7. No rules about the construction8. Increase in financial disequilibrium9. Imbalance in environment10. No protection of the workers

The Remedies of S.E.Z. in India1. To acquire non agricultural land for the SEZ2. Employment for the local workers3. Limitation on maximum land holding4. To save the Small Scale Industries5. To protect workers rights6. To Save Environment7. To fix price of the land8. Do not injustice on the farmers9. Acquisition of the land on lease10. Shares to be given to landholders

Santacruz Electronics Export Processing Zone (SEEPZ)SEEPZ-Special Economic Zone Govt. of India, Ministry of Commerce & IndustryAndheri (East), Mumbai 400 096.

About SPEEZ Santacruz Electronics Export Processing Zone (SEEPZ) is a Special Economic

Zone in Mumbai, India. Situated in the Andheri East area, it is subjected to liberal economic laws as compared to the rest of India to promote rapid economic growth using tax and business incentives and attract foreign investment and technology.

More than 400 units operate in SEEPZ. These include Portescap India Pvt. Ltd., CGI Group Inc., Tata Consultancy

Services, Syntel, Zycus , ACE Software, Tara Jewels Limited, Anlage InfoTech Private Limited, etc.

Sectors• Gems & Jewellery Sector • Software Sector

Sectors• Electric Sector • Infrastructure