sez presentation
TRANSCRIPT
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WELLCOMEWELLCOME
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PROJECTPROJECT
ONON
SEZSEZ(SPECIAL ECONOMIC ZONE)(SPECIAL ECONOMIC ZONE)
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We are thankful PROF.HARNESH SIR, forproviding us with such an interesting topic which
was truly informative.
We are thankful to you for providing us guidanceand giving us sufficient amount of time to
understand the topic well.
We hope that we have reached your level of
expectation.Once again our sincere thanks to you and for
your support.
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:INTRODUCTION::INTRODUCTION:--SEZ means Special Economic Zone isone of the part of governments policies in India. Aspecial Economic zone is a geographical region that
economic laws are more liberal than the usual economic
laws in the country. The basic motto behind this is toincrease foreign investment, development of
infrastructure, job opportunities and increase the income
level of the people.
The SEZ was first established by theChina for increasing investment, job opportunities and
technical knowledge and bring about certain tax reforms.
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:CHARACTERISTICS:-Government have developed SEZ by investing fundsto create zone infrastructure and marketing these
zones internationally. In the Indian SEZ model, states
are being encouraged to take these choices while thecentral government is largely focusing on policy
making and facilitation. Since much of the funding for
SEZs is envisaged through private sector / banks,
soundness of the business model, competitivedifferentiation and market forces would be the key
determinants of bank ability of these projects.
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-:FEATURES OF SEZ:-
Duty-free imports of capital goods and inputs forproduction for Export.
Liberal access to foreign exchange.
Encouragement to FDI. Simplified, one-stop approvals.
Generous tax concessions esp. in early years.
Flexible Labour Laws.
Limitations on sales within the country. Better Infrastructure (Power, Transport &
Communications).
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-:ILLU R ION:-
The best illustration can be none another than
BADDI which is located 55km to 60km or 2hrs
away from Chandigarh were all the companiesstarting from FMCG to Consumer Durable goods
are been situated also having there factory
outlet in particular companies.
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Simplified procedures for development, operation,
and maintenance of the Special Economic Zones and
for setting up units and conducting business in SEZs ,
Single Window clearance on matters relating to
Central
as well as State Governments ,
Simplified compliance procedures and documentationwith an emphasis on self certification ,
Single window clearance for setting up a unit in a
Special Economic Zone
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-:FACILITIES AND INCENTIVES TO
SEZ:-
Exemption from minimum alternate tax under
Section 115 JB of the Income Tax Act.
Exemption from dividend distribution tax underSection 115O of the Income Tax Act.
Exemption from Central Sales Tax (CST).
Exemption from Service Tax . Exemption from customs/excise duties for
development of SEZs .
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THE NEED FOR SEZ AND
GOVERNMENTS POLICY:-
To increase exports.
SEZ can be set up by private, public, joint
sector or by the state government.
Convert Export processing zone(EPZ) to SEZ.
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ADVANTAGES OF SEZ
Growth and development.
Attracts FDI.
Exposure to technology and global markets. Increase in GDP and economic model.
Employment opportunities are created.
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DI DVAN AGES OF SEZ
Exploitation of labours.
Loss of revenue for Government.
Fertile lands being used for establishingindustrial units.
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EVALUATION OF SEZ
Determine how
resources are used.
Whether Employment
opportunities are
created.
Cost outweighs the
benefit of SEZ.
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WHY INDIA?I ir t I i I -I ES success st r ,
sever l t er l cati s have been presented as alternate optionsfor offshore outsourcing. However, feedback received from
several MN s having multi-countr operations as well as
syndicated analysis comparing the various sourcing locations
has revealed that India continues to offer and deliver the best
bundle ofbenefits sought from global sourcing.With significant potential still untapped, it is
expected that the global sourcing phenomenon will continue to
expand in scope, scale and geographic coverage. As global
delivery matures, multi-location strategies will become the norm
and most sourcing destinations, including emerging locations,
will grow in si e. Building on its existing strengths, India will
remain the leading destination and will continue to play an
important role in most global sourcing strategies.
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--::INFRASTUCTURED SCENARIO:INFRASTUCTURED SCENARIO:--
Credit for India
s rapid growth in the Isoftware services and I ES/BPO domains must go in part to the
availability of a robust infrastructure (telecom, power and Roads)
in the country. Relevant telecom facilities are an important pre-
requisite for the success of the software industry and over the
years, the Government has taken steps to ensure that telecomremains a priority area.
Similarly, regular, reliable, uninterrupted
power, is a major necessity for running I software and services
businesses, and has also received substantial attention from the
Government. Recent steps to privati e the distribution of power
and bring in greater efficiencies and customer centricity in the
market, have been welcomed by the ICT industry.
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DEVELOPMENT OVER THE YEARS
The Special Economic Zones Act, 2005 was passed bythe Parliament in May, 2005. The Act came into effecton February 10, 2006.
Out of the 234 formal SEZ approvals given till date The employment projected in the 63 SEZs notified so
far is over 1,575,452 additional jobs.
Creation of IT Infrastructure is being given emphasis
so that Industry can utilize this infrastructure formodernization to increase productivity
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EMERGING CHALLENGES
Taking out the agricultural land. Farmers are paid misappropriate
money. Arable land is being used for non
agricultural propose. Supply chain management problem.
Unbalanced growth. It may be expensive but are also
extremely important.
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HARMONY
Public sector , private sector and
government work in harmony.
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:-CONCLUSION:-
SEZ can become a dangerous tool.
A well defined strategy required for SEZsshould be successful.
SEZ appeals to most of the developedcountries.
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