Sez

Panel on SEZ policy reforms to soon submit its report to commerce ministry

A 17-member committee to suggest larger reforms in the policy for special economic zones (SEZs) will soon submit its report to the commerce ministry, an official said. The report, which will be submitted to Commerce Secretary Rajesh Agarwal, may include suggestions to revamp these zones to boost domestic manufacturing, exports and cut imports, the official said. The committee has held meetings with different stakeholders on the issues pertaining to these zones. The committee has focused on issues such as harmonisation of various prevalent export promotion schemes, including SEZs, export-oriented units (EoUs), MOOWR (Manufacturing and Other Operations in Warehouse), Advance Authorisation, EPCG (Export Promotion for Capital Goods), and Duty-Free Import Authorisation (DFIA). "The report will be submitted soon," the official said.Export Promotion The terms of reference of the committee included identification of operational, procedural, and regulatory challenges faced by SEZ developer

Concessional-duty SEZ sales may hurt MSMEs, distort competition: Report

The report cautions that easing domestic sales by SEZ units could undermine the export-focused framework, weaken MSMEs and distort competition unless accompanied by strict safeguards

For SEZ 2.0 policy, shift focus from concessions to better governance

As the Centre reviews export promotion schemes, experts call for SEZ 2.0 reforms and shifting SEZ policy oversight to DGFT to better align with India's trade framework

Stakeholders to meet commerce ministry on June 30 over SEZ issues

The commerce ministry has called a meeting of stakeholders on June 30 to discuss issues related to special economic zones (SEZs), an official said. The meeting will focus on issues related to the harmonisation of export promotion schemes and SEZ reforms, the official said. The issues which are expected to figure in the deliberations include INR payment for SEZS to domestic tariff area (DTA) services; job work by units of these zones for DTA without linkage to exports, import substitution, reforms in the free trade warehousing zones, and further promoting ease of doing business in these enclaves. The government has set up a 17-member committee to suggest larger reforms in the policy for these zones. It is undertaking a background study focused on the harmonisation of various prevalent export promotion schemes, including SEZs, export-oriented units (EoUs), MOOWR (Manufacturing and Other Operations in Warehouse), Advance Authorisation (AA), EPCG (export promotion for capital goods), a

CBIC clarification fixes one SEZ anomaly, ignores another concern

CBIC's SEZ clarification eases drawback claims on re-exports, but gaps persist for DTA-to-SEZ supplies, calling for a broader, consistent tax interpretation

Duty concessions to SEZ for DTA clearances likely to find few takers

Modest duty cuts and complex conditions may limit SEZ units' appetite for concessional DTA clearances despite the government's intent to boost capacity use

Govt allows temporary customs duty relief for SEZ units sold domestically

One-year relief aims to boost SEZ manufacturing by allowing eligible units to utilise idle capacity in the domestic market amid global export volatility

Govt grants temporary customs duty relief for SEZ goods sold domestically

The lowered duty ‌rates will range between 5 per cent to 12.5 per cent across industries

Govt sets up 17-member committee for larger reforms in SEZ policy

The government has set up a 17-member committee to suggest larger reforms in the policy for special economic zones (SEZs), an official said. It will submit a concept paper recommending a roadmap for broad-based and comprehensive reforms to formulate a SEZ 2.0 policy. It will undertake a background study focused on the harmonisation of various prevalent export promotion schemes, including SEZs, export-oriented units (EoUs), MOOWR (Manufacturing and Other Operations in Warehouse), Advance Authorisation, EPCG (export promotion for capital goods), and Duty Free Import Authorisation (DFIA). The committee's composition includes representatives from commerce, customs, Niti Aayog, DPIIT, and CBIC. The terms of reference include examining the existing Special Economic Zones (SEZ) Act, 2005, with a view to assessing their effectiveness in the current global trade, investment environment and macro-economic landscape and harmonisation with other export promotion schemes so that policy distorti

SEZ sale relaxation in Budget to boost import substitution, jobs: Comm Secy

The Budget's proposed conditional relaxation to allow special economic zone (SEZ) units to sell goods in the domestic market will help promote import substitution and create new jobs, Commerce Secretary Rajesh Agrawal said. He said the details of the announcements will be rolled out in the next 2-3 months. The government on Sunday announced a one-time measure to allow SEZ units to sell their goods in the domestic market at concessional import duty rates, subject to certain quantitative restrictions. It was a long-pending demand of these zones as they were not able to sell their excess production due to global uncertainties and high import duties in India on labour-intensive sectors. The secretary said the proposal will help buy goods from SEZs rather than importing from third countries. "It will help in import substitution and better job creation. It will also provide a level playing field to DTA (domestic tariff area) firms (vis-a-vis SEZs)," Agrawal told PTI. About 7-8 sectors,

This Budget shows a confident, future-ready Bharat, says Piyush Goyal

This is a Budget that shows a future-ready Bharat, and carries forward the reforms that the Prime Minister initiated on August 15 last year, says Goyal

Govt plans policy changes to boost domestic demand for SEZ manufacturers

Govt plans SEZ reforms to offset US tariff hit, enabling duty relief on domestic sales and support for labour-intensive exporters

SEZ amendment Bill may be taken up in monsoon session of Parliament

The Bill will allow 'reverse job work'. This means that SEZ units will be able to do a part of the manufacturing process on its behalf for DTA units

Centre seeks to relax eco-zone norms as states flag development hurdles

The wildlife board may revise eco-sensitive zone rules to allow site-specific plans, after states said rigid norms were hurting local development and delaying new protected area proposals

SEZ to DTA clearance of used machinery should be on depreciated value

Despite GST treating intermediary services as domestic supply, other laws like FEMA and FTDR Act recognise them as exports; SEZ units must pay duty on depreciated value

Special zones: SEZ policy demands all-round reform, not frequent changes

In theory, the SEZ environment would be ideal for the requirements of semiconductor manufacture, which requires stable power, clean water, and access to a skilled workforce

Govt eases SEZ rules to promote chips, electronics component manufacturing

Reduces min land required to set up such firms from 50 hectares to 10 hectares

India's first AI SEZ to be set up in Nava Raipur with ₹1K cr investment

It will be a special area, which is being prepared only for the development and operation of technologies related to AI and computer data, a senior state government official said

Mumbai SEZ leasing rises sharply in 2024, reverses 3-year downward trend

The decline in SEZ leasing in recent years had been largely driven by the government's sunset clauses, which phased out tax benefits, making these zones less attractive to potential tenants

Revamped SEZ law unlikely before the upcoming Lok Sabha elections

The commerce department had sought the Union Cabinet's nod to bring amendments in the existing SEZ Act, 2005 late last year