Multiple Benefits Of Indian Sez’s

By Author: Alice Coope
Total Articles: 213
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Simply put, SEZ i.e. a special economic zone is a geographical location where concerns associated with economic laws pertaining to export and import are liberal as compared to few other parts of the country. These lands are projected to be duty free zones for multiple purposes of trade, operations, duty and tariffs. These units are self-contained and are well incorporated with the architecture and assistance of its own. However, there can be certain units established under SEZ for manufacturing goods and other initiatives for instance processing, assembling, trading, repairing, reconditioning and many more. According to the law SEZ units are meant to be free of customs in India. Goods and services that come into these zones from traffic sections are treated as exports from India and products and services rendered from the SEZ to the DTA are taken as imports to India.

SEZ Benefits

Other than providing state-of-the-art infrastructure and the admission to a high percentage of skilled and trained labor, SEZ benefits also comprise providing developers ...
... and enterprises with an attractive and conducive incentive framework. This includes a 100 percent exemption from income tax up to five years. Furthermore, there is also a 50 percent tax exemption for about two years. Simultaneously, 100 percent FDI is given to the manufacturing department and there is also an exemption from industrial licensing requirements. The sections that come under SEZ comprise a variety of zones that includes:-

* Export Processing Zones (EPZ)

* Free Zones (FZ)

* Industrial Estates (IE)

* Free Trade Zones (FTZ)

* Free Ports

* Urban Enterprise Zones

Conventionally, the aim and objective of an SEZ structure is to capitalize on the foreign investment in the country. Recently, there have been several engineering services company that has contributed in the development of these zones. Dedicated groups of these companies have been present at the SEZ’s to address every client need. Starting from technical assistance to employee augmentation these companies have put forward their expertise in ensuring seamless business operation within the SEZ’s. Some of the environment friendly SEZ benefits offered by these companies include:-

* Global standard landscaping for approximately 15,000 trees

* Bicycles for intra-zone mobility

* Favorable landscape having huge amphitheatre that is accessible and visible from across the entire campus

* Rain water harvesting

* Water treatment plant

* Sewage treatment plant

* A stream is being converted to a natural water body

These apart, there are other benefits as well. These companies also provide complementary consultancy services, for instance turnkey solutions for establishing green field projects in multiple sectors of precision engineering and manufacturing services. Furthermore, there are incubation facilities provided to the users till such time their respective units in the SEZ are not ready.

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