2. 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.
3. 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 development
4. 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 activity
9. Promotion of exports of goods and services
4. Types of S.E.Z. in India
1. SEZ for multi-products
2. SEZ for special sector
3. SEZ for port or airport
5. The Advantages of S.E.Z. in India
1. 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.
6. The Disadvantages of S.E.Z. in India
1. Farmers will be landless
2. Increase unemployment
3. The existence of small scale industries is in risk
4. The agricultural sector will be neglected
5. lost revenue of government for tax free facilities
6. Capitalism will take birth
7. No rules about the construction
8. Increase in financial disequilibrium
9. Imbalance in environment
10. No protection of the workers
7. The Remedies of S.E.Z. in India
1. To acquire non agricultural land for the SEZ
2. Employment for the local workers
3. Limitation on maximum land holding
4. To save the Small Scale Industries
5. To protect workers rights
6. To Save Environment
7. To fix price of the land
8. Do not injustice on the farmers
9. Acquisition of the land on lease
10. Shares to be given to landholders
8. Santacruz Electronics Export Processing Zone (SEEPZ)
SEEPZ-Special Economic Zone
Govt. of India, Ministry of Commerce & Industry
Andheri (East), Mumbai 400 096.
9. 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.
