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Special Economic Zone SEZ in India


Special Economic Zone – SEZ in India

Special Economic Zone – SEZ in India were introduced to provide an internationally competitive and hassle-free climate for export promotion in India. SEZ in India is established through the Special Economic Zone (SEZ) Act, 2005. The SEZ Act provides for drastic simplification of procedures and for single window clearance on matters relating to Central as well as State Governments. In this article, we look at the basics of SEZ in India and the advantages of setting up a business in an SEZ.

SEZ Act in India

Special Economic Zone – SEZ in India are established through the SEZ Act, 2005. 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

Advantages of Setting up a Business in an SEZ

The following are some of the advantages and incentives offered for those units in an SEZ in India:

  • Exemption from Central Sales Tax
  • Exemption from Service Tax
  • Single window clearance for Central and State level approvals
  • Exemption from State sales tax and other levies as extended by the respective State Governments
  • Duty-free import / domestic procurement of goods for development, operation and maintenance of units in SEZ
  • Exemption from minimum alternate tax under section 115JB of the Income Tax Act
  • 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first five years, 50% for next five years thereafter and 50% of the reinvested export profit for next five years
  • External commercial borrowing by SEZ units up to USD500 million in a year without any maturity restriction through recognized banking channels

List of SEZ in Chennai & Tamil Nadu

  • TCS Siruseri | IT/ITES
  • Elcot Sholinganallur | IT/ITES
  • DLF Info City Porur | IT/ITES
  • Mahindra Chengleput | IT / Hardware / Bio – information
  • MEPZ Special Economic Zone Chennai | Multiproduct
  • Tril Info Park Taramani | IT/ITES
  • Sipcot Oragadam | Electronics & Hardware
  • IG3 Infra Limited (ETL Infrastructure Services Limited) Thoraipakkam | IT/ITES
  • CHIL Coimbatore | IT/ITES
  • ETA Techno Navalur | IT/ITES
  • Nokia Sriperumbudur | Telecommunication Equipments
  • Cognizant Siruseri | IT/ITES
  • Sipcot Gangaikondan | Transport
  • Mahindra Chengleput | Auto Ancillaries
  • Shriram Properties and Infrastructure Private Limited Chennai | IT/ITES
  • Cheyyar SEZ | Footwear
  • Syntel Siruseri | IT/ITES
  • Hexaware Technologies Limited Siruseri | IT/ITES
  • Elcot Coimbatore | IT/ITES
  • L & T Shipbuilding Kattupalli | Engineering
  • Synefra Construction Ltd. (Suzlon Infrastructure Ltd.) Coimbatore | Engineering
  • Flextronics Technologies (India) Private Limited Sriperumbudur | Electronics Hardware
  • Sicpot Hi-Tech Sriperumbudur | Electronics Hardware
  • Mahindra Chengleput | Apparel & Fashions
  • AMRL Nanguneri | Multi-product
  • Sipcot Perundurai | Engineering
  • New Chennai Cheyyur | Engineering
  • J. Matadee Mannur | Footwear
  • Pearl City CCCL Tuticorin | Food Products
  • Elcot Trichy | IT/ITES
  • Span Ventures Coimbatore | IT/ITES
  • Sipcot Ranipet | Engineering
  • Elcot, Ilandhakulam Ilanthakullam | IT/ITES
  • New Chennai Cheyyur | Multi Services
  • IG3 Infra Limited Uthukuli | Textile
  • Estintia IT Park formerly known as (L & T Arun Excello) Chennai | IT/ITES

List of SEZ in Bangalore and Karnataka

  • Manyata Embassy Business Park SEZ Bangalore | IT/ITES
  • Pritech Park SEZ (Primal Projects Limited) Bangalore | IT/ITES
  • International Technology Park Limited Bangalore | IT/ITES
  • Wipro Limited (Sarjapur) | IT Karnataka
  • Wipro Limited (Electronic City) Bangalore | Information Technology
  • Bagmane SEZ Bangalore | IT/ITES
  • Cessna SEZ Bangalore | IT/ITES
  • Global Village formerly Tanglin SEZ | IT/ITES
  • Gopalan Enterprises Private Limited (Global Axis-Hoodi) | IT/ITES
  • Divyasree Technopark Krishnarajapuram | IT/ITES
  • Vrindavan Tech Village SEZ Bangalore | IT/ITES
  • Mangalore SEZ | Petro Chemicals and Petroleum Products
  • RMZ Ecoworld Karnataka | IT/ITES
  • HCL Technologies Bangalore | IT/ITES
  • BIOCON SEZ  Bangalore | Biotechnology

Complete List of SEZ in India

Start a Business in an SEZ

IndiaFilings can help you start a business in an SEZ in India or register a Private Limited Company. Talk to an IndiaFilings Advisor today to know more.