Special Economic Zones in India and Global Engineering Brands

24.08.2011 | Author: ricky01 | Posted in Business and Industry
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A special economic zone (SEZ) can be simply defined as a geographical representation of a region having certain economic laws and regulations. These laws however are liberal as compared to any other conventional economic laws in a country. At the same time, SEZ is a “trade capacity developmental” tool. The aim is to promote rapid economic growth by using business incentives and tax that helps in attracting foreign technology and investment.
Similarly, Special Economic Zones in India can be looked upon as an engine for economic development assisted by high-end infrastructure and lucrative fiscal package, both at the State and Central level, within minimum regulations. The primary objectives of SEZ are as listed below-
Generates of complementary economic activity
Promotes exports of goods and services
Promotes investment from foreign and domestic sources
Generates employment opportunities
Leads to the development of infrastructure facilities
Several companies from India and abroad have participated in the Indian SEZ. There have been also cases when engineering consultancy services came forward and gave their best to develop these regions. These organizations apart from dealing in manufacturing and engineering requirements in domains such as engineering, aerospace, and automotive have contributed significantly in establishing the special economic zones in India.
The first ever-notified Aerospace Precision Engineering and Manufacturing SEZ is located in Karnataka. This development spans across total expanse of 300 acres in Belgaum, equipped to expand the Aerospace Precision Engineering and Manufacturing supply ecosystem. Exclusive benefits of SEZ are-
Sustainable Support at the Special Economic Zone
An Eco-friendly, Organic and Sustainable Industrial Environment
Consulting facility
Incubation facility
Eminent market players in engineering services outsourcing makes it possible for the investors to make the most of Sez Policy Benefits approved by the Indian Government. The fiscal benefits of SEZ are-
Income Tax advantages for units at the SEZ
100% SEZ tax exemption – in a block of 10 years out of 15 years
Investments in SEZ also enjoy the following Income Tax Benefits:-
100% Exemption – for first five years
50% Exemption – for next five years
Hence, we see that global engineering service brands have put forward their best foot for developing the SEZ with engineering expertise thereby aiming towards economic growth and an overall social development.
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A special economic zone (SEZ) can be simply defined as a geographical representation of a region having certain economic laws and regulations. These laws however are liberal as compared to any other conventional economic laws in a country. At the same time, SEZ is a “trade capacity developmental” tool. The aim is to promote rapid economic growth by using business incentives and tax that helps in attracting foreign technology and investment.Similarly, Special Economic Zones in India can be looked upon as an engine for economic development assisted by high-end infrastructure and lucrative fiscal package, both at the State and Central level, within minimum regulations. The primary objectives of SEZ are as listed below-Generates of complementary economic activityPromotes exports of goods and servicesPromotes investment from foreign and domestic sourcesGenerates employment opportunitiesLeads to the development of infrastructure facilitiesSeveral companies from India and abroad have participated in the Indian SEZ. There have been also cases when engineering consultancy services came forward and gave their best to develop these regions. These organizations apart from dealing in manufacturing and engineering requirements in domains such as engineering, aerospace, and automotive have contributed significantly in establishing the special economic zones in India.The first ever-notified Aerospace Precision Engineering and Manufacturing SEZ is located in Karnataka. This development spans across total expanse of 300 acres in Belgaum, equipped to expand the Aerospace Precision Engineering and Manufacturing supply ecosystem. Exclusive benefits of SEZ are-Sustainable Support at the Special Economic ZoneAn Eco-friendly, Organic and Sustainable Industrial EnvironmentConsulting facilityIncubation facilityEminent market players in engineering services outsourcing makes it possible for the investors to make the most of Sez Policy Benefits approved by the Indian Government. The fiscal benefits of SEZ are-Income Tax advantages for units at the SEZ100% SEZ tax exemption – in a block of 10 years out of 15 yearsInvestments in SEZ also enjoy the following Income Tax Benefits:-100% Exemption – for first five years50% Exemption – for next five yearsHence, we see that global engineering service brands have put forward their best foot for developing the SEZ with engineering expertise thereby aiming towards economic growth and an overall social development.

Other Links: <a href=”http://www.quest-global.com/offshore-engineering-services.html”>offshore engineering companies</a>, <a href=”http://www.squidoo.com/manufacturing-services-growth-of-engineering-manufacturing-services”>manufacturing services</a>

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