Special Economic Zones [SEZ] (Provisions and Performance)

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Special Economic Zones [SEZ] (Provisions and Performance)

SEZs are integrated townships with main objective of promoting exports. They have different set of rules as compared to rest of the India.
SEZ Act was passed in 2005. There are liberalised policies only in SEZ areas.

Provisions:
·         Single window clearance
·         Zero % Import duty
·         fifteen years tax holiday
·         Assured infrastructure to all firms
·         Subcontracting of labour and offshore (foreign) banking
·         Routine customs inspections are not allowed; only at time of entry and exit

Performance:
  • $12bn exports from SEZ as compared to $480bn in India
  • Only 1.78mn jobs out of 474mn in India
  • More preference to Urban Agglomerations thereby defeating equitable growth
  • Only 60% SEZ had operations started

Thank You.
Regards,
Behere Classes (www.behereclasses.com)

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