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A
new policy has been introduced in
the Exim
Policy effective from 1.4.2000
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, reconditioning,
and repair or for service activity.
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 predetermined value addition or
minimum export performance requirements.
Sales in the Domestic
Tariff Area by SEZ units shall
be subject to positive foreign exchange
earning and on payment of full Custom
Duty and import policy in force.
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 (Kerela),
Santa Cruz (Mumbai-Maharashtra), Falta
(West Bengal), Madras (Tamil Nadu),
Visakhapatnam (Andhra Pradesh) and
Noida (Uttar Pradesh) into a Special
Economic Zones.
Distinguishing
Features
Indian SEZ policy
has following distinguishing features:
- The zones are proposed to setup
by private sector. Private sector
is also invited to develop infrastructure
facilities in the existing SEZ can
also be developed private sector.
- State Government have a lead role
in the setting up of SEZ.
- A framework is being developed
by creating special windows under
existing rules and regulations of
the Central Govt. and State Govt.
for SEZ.
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