Leveraging The Sez Benefits In India

Special Economic Zone (SEZ) policy in India was declared for the first time in 2005

. This act later got amended in 2006 and 2007. SEZ is taken as one of Indias growth-oriented legislations to increase foreign direct investment into the country and encourage public-private partnership to establish global standards in technology, exports and infrastructure. The Ministry of Commerce and Industry had set clear policies and regulations to administer as how the SEZ are established and effectively governed. Furthermore, the State Government has undertaken a significant role in expanding SEZs in each states. They provide for the conditions and approve important approvals that are essential for the management and functioning of SEZs in India.

Recently, eminent integrated engineering services have taken part to develop some of the special economic zones in India. A noteworthy initiative that deserves mention here is the Precision Engineering and Manufacturing SEZ unit in Belgaum. This unit has acted as a base for other foundry operations for multiple industrial and automotive amenities. There are approximately 100 foundries that are present along with 150 machine spots. Furthermore, you have access to a vast skilled labor force and that too at a competitive price range. This factor adds even more to its credibility. These apart, this Indian SEZ provides an organic, eco-friendly and sustainable industrial development. Few other SEZ benefits are:-

* There is international standard landscaping with approximately 15,000 trees

* There are bicycles for intra-zone mobility

* A proper landscape with a huge amphitheatre visible and available from total campus

* Has rain water harvesting

* Provides a water treatment plant

* Provides a sewage treatment plant

* An existing small stream is being converted to a natural water body

Other than the above mentioned SEZ benefits, the unit provide complementary consulting facility. This is offered in the form of turnkey operations for setting up green field projects in the manufacturing and precision engineering zone. Furthermore, the unit also offers an incubation facility to the users, till such time their individual units within the zone are under preparation. The plan also ensures that users have access to the refurnished offices and other allied business amenities in reasonable rental schemes.

Thus it can be asserted that eminent MNCs and global manufacturing services have set their best foot forward to develop the Indian SEZs. Other than attracting foreign investments development of Indian SEZs also resulted in export of extra goods and services and successfully created better and more employment scopes.

by: Gladeyas

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