Government updates SEZs

There were 7 Central Government Special Economic Zones (SEZs) and 12 State/Private Sector SEZs prior to the enactment of the SEZ Act, 2005.  In addition, 416 proposals for setting up of SEZs in the country have been accorded formal approval under the SEZ Act, 2005.  Presently, 351 SEZs are notified, out of which 232 SEZs are operational.  States/Union Territories-wise details of SEZs is at Annexure-I.

 

SEZs being set up under the SEZ Act, 2005 and SEZ Rule, 2006 are primarily private investment driven. As per the Special Economic Zones Act, 2005, a Special Economic Zone (SEZ) may be established either jointly or severally by the Central Government, State Governments or any person for manufacture of goods or rendering services or for both or as a Free Trade and Warehousing Zone. 

 

Proposals for setting up of SEZs are considered by the Board of Approval only after written consent of the concerned State Government.  No proposal for establishment of Special Economic Zone (SEZ) in Bihar is pending with the Department of Commerce at present.

 

As per Section 30 of the SEZ Act, 2005, any goods removed from a SEZ to the Domestic Tariff Area shall be chargeable to duties of customs including anti-dumping, countervailing and safeguard duties under the Customs Tariff Act, 1975, where applicable, as leviable on such goods when imported.

 

 

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