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| SEZ Developers |
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A Special Economic Zone can be developed by private agency (individual / NRI / Indian company / Foreign Company) or state government or a combination. If the SEZ developer or units in SEZ seek FDI (Foreign Direct Investment), FDI policies and procedures must be complied with. These are in addition to SEZ policies and procedures which are common, whether with or without FDI.
Where the Developer has leasehold rights over the identified area, the lease shall be for a period not less than twenty years.
The units proposed to be set up in SEZ can be manufacturing or service providers or trading units or warehousing units. However, the prescribed minimum area requirement must be complied with.
A Minimum contiguous and vacant area of the SEZ is specified depending upon which types of units will be set up in the SEZ. This contiguous area should not have any public thoroughfare.
Developer of a SEZ is entitled to various tax and other benefits.
Any person, who intends to set up a Special Economic Zone, may, after identifying the area, make a proposal in Form A to seek approval of the Government of India as well as the concerned State Government.
The Government, while according approvals will consider the minimum investment or minimum net worth criteria.
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