· Simplification of procedures for development, operation,
and maintenance of the Special Economic Zones and for
setting up and conducting business in SEZs;
· Single window clearance for setting up of an SEZ;
· Single window clearance for setting up a unit in a Special
Economic Zone;
· Single Window clearance on matters relating to Central as
well as State Governments;
· Simplified compliance procedures and documentation with an
emphasis on self certification; and
· That a wide range of services can be rendered from SEZs.
Other significant features of the Rules are:
ð Documentation for various activities of the units has been
reduced to the barest minimum with an emphasis on self-
certification.
ð No requirement for providing bank guarantees, thereby
reducing transaction costs;
ð Contract manufacturing for foreign principals allowed;
ð Option to obtain sub-contracting permission at the initial
approval stage;
ð Import-Export of all items, through personal baggage has
been allowed
Minimum area requirements stipulated for various categories of SEZs are:
* Multi-product SEZs to have an area of 1000 hectares or
more.
* Services-Sector SEZs to have an area of 100 hectares or
more.
* To support sectors where India has a competitive advantage,
marketing@alchempro.com
