Ministry of Commerce and Industry of the Republic of India

07/03/2019 | Press release | Distributed by Public on 07/03/2019 07:14

Investment in SEZS

The Government has withdrawn exemption from Minimum Alternate Tax (MAT) on Special Economic Zones (SEZs) with effect from 1st April, 2012. The details of investment in SEZs post introduction of MAT is given below:

The details of investment in SEZs post introduction of MAT

Sl.No,.

Financial Year

Investment*

(Rs. Crore)

1.

2012-2013

2,36,717

2.

2013-2014

2,96,663

3.

2014 -2015

3,38,794

4.

2015- 2016

3,76,494

5.

2016- 2017

4,23,189

6.

2017-2018

4,74,917

7.

2018 -2019

5,07,644

* Calculated on cumulative basis.

The following initiatives have been taken in recent years for promotion of investment in SEZs:

  1. The Government periodically reviews the policy and operational framework of SEZs and takes necessary measures so as to facilitate speedy and effective implementation of SEZs.
  2. Minimum Land Area requirement for setting up of new SEZs has been reduced to 50% for Multi-product and Sector-specific SEZs.
  3. Sectoral broad-banding has been introduced to encompass similar / related areas under the same Sector.
  4. Dual use of facilities like Social & Commercial infrastructure by SEZs and non-SEZs entities has been allowed in order to make SEZ operations more viable.
  5. State Governments have been advised to make their own Single Window Clearance mechanism more effective.
  6. Review meetings with the Development Commissioners of SEZs are held regularly.

In order to facilitate paperless transaction for movement of goods for imports and exports from SEZs, a web-based platform - SEZ Online system has already been implemented. Further, a mobile app named 'SEZ India' having four sections SEZ Information, SEZ Online Transaction, Trade Information and Contact details was launched on 06.01.2017 to facilitate SEZ units/developers.

Investment made, employment generated and exports from SEZs are the quantifiable criteria for assessing development of infrastructure and economic development. Details of investment, employment generated and exports from SEZs during the past two years are given below:

Financial Years

Investment*

(Rs. in crore)

Employment*

(Persons)

Exports

(Rs. in crore)

2017-2018

4,74,917

19,77,216

5,81,033

2018-2019

5,07,644

20,61,055

7,01,179

* calculated on cumulative basis.

This information was given by the Minister of Commerce and Industry, Piyush Goyal, in a written reply in the Lok Sabha today.

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MM