By Accommodation Times News Services
To ensure smooth functioning of SEZs and facilitating ease of doing business in SEZs to SEZ Developers/Units, Department of Commerce, Government of India has prescribed a time limit for disposal of various activities related to SEZ Developers/Units by the DC offices viz. Examination of the proposals for setting up of SEZs including site inspection of land and sending to the DoC is 15 days, examination of the proposal for change of sector is 7 days, extension of LOA upto 4th year and execution of lease deed is 7 days, in-principle exit order is 7 days, issuance of Form-I for CST exemption is 5 days etc. This will work as a catalyst in providing good governance in the SEZs.
These timelines will be strictly followed by all the Zonal Development Commissioners throughout India. These timelines have been uploaded on the SEZ Website (www.sezindia.nic.in) and will be prominently displayed through notice boards in all DC offices as well as on the individual websites of the Zones.
This was launched in Noida SEZ by Shri Madhusudan Prasad, Additional Secretary, Department of Commerce in the presence of Shri Sumeet Jerath, DC, Noida SEZ and Shri Rajeev Arora, Joint Secretary, Department of Commerce. Similar functions are also being organised by all the Zonal Development Commissioners of SEZs across the country.
India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia’s first EPZ set up in Kandla in 1965.
As per the provisions of the SEZ Act, 2005, an SEZ may be set up either by the Central Government, State Government or any person for manufacture of goods or rendering services or for both or as a free trade warehousing zone. Such proposals duly recommended by the concerned State Government are considered by the Board of Approval for SEZs. SEZ being set up under the SEZ Act, 2005 are primarily private investment driven.
The main objectives of the SEZ Act are generation of additional economic activity; promotion of exports of goods and services; promotion of investment from domestic and foreign sources; creation of employment opportunities; development of infrastructure facilities and maintenance of sovereignty and integrity of India, the security of the State and friendly relations with foreign States.
In short span of about eight years since SEZs Act and Rules were notified in February, 2006, there are 192 operational SEZs in India. There has been overall growth of export of 2,063% over past eight years (2005-06 to 2013-14). Exports from the SEZs in 2013-14 were Rs.4,94,077 crore. The total exports from SEZs as on 30th June, 2014 i.e. in the first quarter of the current financial year 2014-15, has been to the tune of Rs.1,21,637 crore approximately, registering a growth of 7.36% over the exports of corresponding period of the previous financial year.