How special is a special economic zone?
Special Economic Zone is a territory in a country that is duty free, and has different business laws!
This is to encourage investment and generate employment.
Let's see how! ๐งต
Special Economic Zone is a territory in a country that is duty free, and has different business laws!
This is to encourage investment and generate employment.
Let's see how! ๐งต
1. Easy Application for industries to setup their companies in India. No license is required for import.
2. Fast Approvals: Single window clearances from SEZ offices, no local rules or bureaucratic procedures.
2. Fast Approvals: Single window clearances from SEZ offices, no local rules or bureaucratic procedures.
3. No routine examination by customs authorities of export/import cargo.
4. Duty free import and domestic procurement of goods for development, operation and maintenance of SEZ units.
4. Duty free import and domestic procurement of goods for development, operation and maintenance of SEZ units.
5. 100% Income Tax exemption on export income for first 5 years, 50% for next 5 years there after and 50% of the profits invested back in the company for next 5 years.
Adani's Mundra port is an SEZ, and attracts leading global companies with these incentives, helping make India a manufacturing hub.
- With the help of large investments, the SEZ creates thousands of jobs in the area,
- With the help of large investments, the SEZ creates thousands of jobs in the area,
- improves infrastructure and connectivity, and thus leads to rapid development and growth in the country!
What do you want to learn next?
What do you want to learn next?
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