Data on Special Economic Zones

Data on Special Economic Zones(SEZ)

The Special Economic Zones (SEZs) policy was launched in April 2000. The Special Economic Zones Act was enacted in 2005.

The amount of land that the proposal requires will determine what type of SEZ it will be. Some of the different types are:

Multi-sector SEZ (requiring a minimum of 1000 hectares of land);
Sector-specific SEZ (requiring a minimum of 100 hectares);
Free Trade and Warehousing Zone (FTWZ) (requiring a minimum of 40 hectares); and
IT/ITeS/handicrafts/biotechnology/non-conventional energy/gems and jewellery SEZ (requiring a minimum of 10 hectares).

Incentives and facilities available to developers include:

Exemption from customs/excise duties for the development of SEZs for authorized operations approved by the BOA.
Income Tax exemption on income derived from the business of development of the SEZ in a block of 10 years in 15 years under Section 80-IAB of the Income Tax Act. (Sunset Clause for Developers has become effective from April 1, 2017).
Duty free import and domestic procurement of goods for the development, operation, and maintenance of your company/SEZ unit;
100 percent income tax exemption on export income for first five years, 50 percent for five years thereafter, and 50 percent of the export profit reinvested in the business for the next five years.
Exemption from the goods and services tax (GST) and levies imposed by state government (supplies to SEZs are zero rated under the IGST Act, 2017, meaning they are not taxed);
Exemption from Minimum Alternate Tax (MAT)
Single window clearances for all state and federal government approvals
Exemption in electricity duty and tax on the sale of electricity by certain states in India;
Presence of customs officers in the SEZs to facilitate and expedite the trade processes; and
Some states also offer land to SEZ developers at concessional rates to promote industries in accordance with the state’s prevailing Industrial Policy.

There were 7 Central Government Special Economic Zones (SEZs) and 12 State/Private Sector SEZs prior to the enactment of the SEZs Act, 2005. In addition, 425 proposals for setting up SEZs in the country have been accorded formal approval under the SEZ Act, 2005. Presently, 378 SEZs are notified, out of which 265 are operational. States/Union Territories-wise details of SEZs is below.

Eight Special Economic Zones (SEZs) have been approved for the Agro and Food Processing sector in India. Of these 8 SEZs, 7 have been notified and 4 are operational.

Source: PIB

Join Our Telegram

Voice clone-AI

Pradhan Mantri Suryodaya Yojana

06 Feb, 24
SHARE

Recently, Prime Minister announced Pradhan Mantri Suryodaya Yojana under which 1 crore households will get rooftop solar power systems. India’s Status of Current Solar Capacity India currently stands at 4th place globally in solar power capacity. As per Ministry of New an

Foreign Contribution Regulation Act (FCRA)- NGO

06 Feb, 24
SHARE

The Foreign Contribution Regulation Act, 2010 (FCRA) registration of two prominent non-governmental organisations (NGOs) — Centre for Policy Research (CPR) and World Vision India (WVI) have been cancelled this month. What is FCRA? Key provisions of FCRA, 2010 Key aspects Description

Voice clone-AI

06 Feb, 24
SHARE

Voice clone fraud has been on the rise in India. AI voice cloning – It is the process of creating a synthetic replica of a person’s voice through machine learning and speech synthesis technology.It is called as voice deepfakesor audio deepfakes. Objective – To achieve a high level of na

Science communication- how to promote

06 Feb, 24
SHARE

Steps taken by India to promote Science Communication Publications and Information Directorate (PID) - An organisation under Council of Science and Industrial Research (CSIR) established in 1951 for publishing and disseminating scientific information in India. National science magazines- The PI

Universal Basic Income (UBI)- Analysis

05 Feb, 24
SHARE

Universal Basic Income (UBI) can strengthen welfare architecture and unlock the nation’s latent demographic potential. UBI - It is an income support mechanism typically intended to reach all or a very large portion of the population regardless of their earnings or employment status. Objective- To provide enough to co