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SEZ Scheme & EOU Scheme

SEZ Scheme & EOU Scheme. Special Economic Zones (SEZ)

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SEZ Scheme & EOU Scheme

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  1. SEZ Scheme & EOU Scheme

  2. Special Economic Zones (SEZ) • Special Economic Zone (SEZ) Scheme was introduced by the government with effect from 1.4.2000 with the objectives to provide an internationally competitive and hassle-free environment for earning of foreign exchange, attracting Foreign Direct Investment (FDI), generation of employment and to facilitate transfer of technology. • SEZ’s are considered to be growth engines to boost manufacturing, augment exports and generate large scale employment. • The unique feature of the SEZ Scheme is that an SEZ is considered to be foreign territory for the purposes of trade operations, duties and tariffs. • A unit in an SEZ can be set up for the purpose of manufacture of goods or for the purpose of rendering services including trading. • An SEZ unit set up for the manufacture of goods & services is required to be Net Foreign Exchange earner. • There are various benefits available under the SEZ scheme which has been shown in a comparative chart.

  3. Export Oriented Undertakings ( EOU) • The units undertaking to export their entire production of goods and services are allowed to be set up under EOU Scheme. • Only projects with investment of Rs. 1 Crore (except in cases of certain specified sectors) in plant & machinery are considered. • EOU’s are also considered to be growth engines to boost manufacturing, augment exports and generate large scale employment. • The other detailed benefits of EOU Scheme in a comparative chart.

  4. EXPORT PROCESSING ZONES • EPZs have merged as effective instruments to boos export of manufactured products especially in developing countries. • The Zones set up as enclaves separated from the domestic tariff area by physical barriers are intended to provide an internationally competitive duty free environment for duty free export production at low costs. • This enables the products to be competitive both quality wise and quantity wise in the international market.

  5. Contd…. • Custom clearance facilities are offered within the zone at no extra charges, while facilities like banking, post office and clearing agencies are also available in the service centre located in each zone.

  6. List of EPZs started in India • Kandla Free Trade Zone • Santa Cruz Electronic Export Processing Zone • Noida Export Processing Zone • Madraz Export Processing Zone • Falta Export Processing Zone • Cochin Export Processing Zone • Vishakha patnam Export Processing Zone

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