A small info on SEZ (Special Economical Zone)
A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's typical economic laws. The category 'SEZ' covers a broad range of more specific zone types, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others. Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC).
SEZs have been implemented using a variety of institutional structures across the world ranging from fully public (government operator, government developer, government regulator) to 'fully' private (private operator, private developer, public regulator). In many cases, public sector operators and developers act as quasi-government agencies in that they have a pseudo-corporate institutional structure and have budgetary autonomy. SEZs are often developed under a public-private partnership arrangement, in which the public sector provides some level of support (provision of off-site infrastructure, equity investment, soft loans, bond issues, etc) to enable a private sector developer to obtain a reasonable rate of return on the project (typically 10-20% depending on risk levels).
SEZs have been implemented using a variety of institutional structures across the world ranging from fully public (government operator, government developer, government regulator) to 'fully' private (private operator, private developer, public regulator). In many cases, public sector operators and developers act as quasi-government agencies in that they have a pseudo-corporate institutional structure and have budgetary autonomy. SEZs are often developed under a public-private partnership arrangement, in which the public sector provides some level of support (provision of off-site infrastructure, equity investment, soft loans, bond issues, etc) to enable a private sector developer to obtain a reasonable rate of return on the project (typically 10-20% depending on risk levels).
List of SEZs in India
The policy provides for setting up of SEZs in the public, private, joint sector or by State Governments. One of them is Sricity Multi product SEZ, part of Sricity which is a developing satellite city in the epicentre of AP & TN. It was also envisaged that some of the existing Export Processing Zones would be converted into Special Economic Zones.
- Mahindra World City, (Chennai and Jaipur) from Mahindra Group
- Bangalore (Karnataka)
- Mangalore (Karnataka)
- Chennai,Trichy, Ilandaikulam Madurai, Nanguneri and Tirunelveli (Tamil Nadu)
- Ahmedabad, Baroda, Kandla and Surat (Gujarat)
- Hyderabad (Andhra Pradesh)
- Cochin (Kerala)
- Pithampur (Madhya Pradesh)
- Nagpur also refer MIHAN, Pune and SEEPZ in Mumbai (Maharashtra)
- NOIDA, Greater NOIDA (Uttar Pradesh) UP
- Visakhapatnam (Andhra Pradesh)
- Agra (Uttar Pradesh)
- Pharma and Biotech SEZ, Aurangabad, Maharashtra (http://www.inspirainfra.com)
- MARG Swarnabhoomi (SEZs) for Engineering and Multi Services, (Tamil Nadu)
- Polepally (Andhra Pradesh)
- Velankani SEZ, (Chennai) (http://www.velankanisez.com)
- Falta (West Bengal)
- Kensington (Powai, Mumbai)
- Chennai One (Thoraipakkam, Chennai)
- ETA Technopark (Navalur, Chennai)
Currently, India has more than 1022 units in operations in over 9 functional SEZs, each an average size of 200 acres (0.81 km2). 8 Export Processing Zones (EPZs) have been converted into SEZs. These are fully functional. All these SEZs are in various parts of the country in the private/joint sectors or by the State Government. But this process of planning and development is under question, as the states in which the SEZs have been approved are facing intense protests, from the farming community, accusing the government of forcibly snatching fertile land from them, at heavily discounted prices as against the prevailing prices in the commercial real estate industry. Also some reputed companies likeBajaj and others have commented against this policy and have suggested using barren and wasteland for setting up of SEZs.
Attempts to set up a Special Economic Zone in Nandigram have led to protests by villagers in the area. A Parliamentary Committee to study and give recommendations on SEZs has said that no further SEZs be notified unless the existing law is amended to incorporate the changes related to the land acquisitions.
Genpact has announced its plans to expand its presence in Hyderabad by setting up a Special Economic Zone (SEZ) across 50 acres (200,000 m2) in the city at Jawahar Nagar.
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