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SEZ Advantages  |
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Special Economic Zone (SEZ) Units in India were set up to promote industrialization and economic growth through sustainable development. The main policy states that these SEZ units of India shall be offered tax rebates, fiscal incentives and lands at subsidized rates which being the key features of SEZ Units in India. The main objectives of setting up of Special Economic Zones in India are as follows -
- Generation of additional economic activity
- Promotion of exports of goods and services
- Promotion of investment from domestic and foreign sources
- Creation of employment
- Development of infrastructure facilities
- Simplified procedures for development, operation, and maintenance of the Special Economic Zones and for setting up units and conducting business
- Single window clearance for setting up of a SEZ and an unit in SEZ
- Single window clearance on matters relating to Central as well as State Governments
- Easy and simplified compliance procedures and documentations with stress on self certification
Some of the key Advantages of SEZ Units in India is mentioned as below
- 10-year tax holiday in a block of the first 20 years
- Exemption from duties on all imports for project development
- Exemption from excise / VAT on domestic sourcing of capital goods for project development
- No foreign ownership restrictions in developing zone infrastructure and no restrictions on repatriation
- Freedom to develop township in to the SEZ with residential areas, markets, play grounds, clubs and recreation centers without any restrictions on foreign ownership
- Income tax holidays on business income
- Exemption from import duty, VAT and other Taxes
- 10% FDI allowed through the automatic route for all manufacturing activities
- Procedural ease and efficiency for speedy approvals, clearances and customs procedures and dispute resolution
- Simplification of procedures and self-certification in the labor acts
- Artificial harbor and handling bulk containers made operational through out the year
- Houses both domestic and international air terminals to facilitate transit, to and fro from major domestic and international destinations
- Has host of Public and Private Bank chains to offer financial assistance for business houses
- A vibrant industrial city with abundant supply of skilled manpower, covering the entire spectrum of industrial and business expertise
- Well connected with network of public transport, local railways and cabs
- Pollution free environment with proper drainage and sewage system
- In-house Customs clearance facilities
- Easy access to airport and local Railway Station
- Full authority to provide services such as water, electricity, security, restaurants and recreational facilities within the zone on purely commercial basis
- Abundant supply of technically skilled manpower
- Abundant supply of semi-skilled labor across all industry sectors
http://business.mapsofindia.com/sez/advantages-units-india.html
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| About Promoter |
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UL CyberPark is promoted by Uralungal Labour Contract
Co-operative Society Ltd (ULCCS) near Vatakara in Kozhikode District, Kerala |
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| SEZ Advantages |
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Special Economic Zone (SEZ) Units in India were set up to promote industrialization and economic growth through sustainable development. |
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