Sez's in Gems and Jewelery
abstract
Gems and Jewellery have been a part of the Indian civilization since its recorded history. It has now grown to become one of the leading export oriented industries in India recording an export turnover of around Rs 91617.53 Crores during 2008-09, making it a significant foreign exchange earner for the country. By the formation of SEZ in gems and jewellery in India it improved the contribution of industry at 70% of the World gems in terms of quantity and 45% in terms of value. By this the formations rules for setting up an industry have been made easy, government has given many advantages to the companies in SEZ’s. The potential and salient features of gems and jewellery have been drastically increasing in the recent years. The present SEZ’s and upcoming SEZ’s in the gems and jewellery industry the companies advantages from SEZ’s are noted. Recommendations which are done by industry to the government for the improvement of the gems and jewellery industries are also mentioned. At last the requirements needed for the setting up a SEZ are also put in this assignment.
Introduction:
“Special Economic Zones are Specific geographical regions with economic laws that are more liberal than a country’s typical economic laws” –Masami Ishida, ERIA
The main objective of SEZ is to “Increase in Exports” of the country in a specific sector (sector specific SEZ) or various sectors (multi product SEZ) by providing State of the Art Infrastructure. This policy intended to make SEZs an engine for economic growth supported by quality infrastructure complemented by an attractive fiscal package, both at the Centre and the State level, with the minimum possible regulations. SEZs in India functioned from 1.11.2000 to 09.02.2006 under the provisions of the Foreign Trade Policy and fiscal incentives were made effective through the provisions of relevant statutes. Domestic regulations, restrictions and infrastructure inadequacies are sought to be eliminated in the SEZs for
Gems and Jewellery have been a part of the Indian civilization since its recorded history. It has now grown to become one of the leading export oriented industries in India recording an export turnover of around Rs 91617.53 Crores during 2008-09, making it a significant foreign exchange earner for the country. By the formation of SEZ in gems and jewellery in India it improved the contribution of industry at 70% of the World gems in terms of quantity and 45% in terms of value. By this the formations rules for setting up an industry have been made easy, government has given many advantages to the companies in SEZ’s. The potential and salient features of gems and jewellery have been drastically increasing in the recent years. The present SEZ’s and upcoming SEZ’s in the gems and jewellery industry the companies advantages from SEZ’s are noted. Recommendations which are done by industry to the government for the improvement of the gems and jewellery industries are also mentioned. At last the requirements needed for the setting up a SEZ are also put in this assignment.
Introduction:
“Special Economic Zones are Specific geographical regions with economic laws that are more liberal than a country’s typical economic laws” –Masami Ishida, ERIA
The main objective of SEZ is to “Increase in Exports” of the country in a specific sector (sector specific SEZ) or various sectors (multi product SEZ) by providing State of the Art Infrastructure. This policy intended to make SEZs an engine for economic growth supported by quality infrastructure complemented by an attractive fiscal package, both at the Centre and the State level, with the minimum possible regulations. SEZs in India functioned from 1.11.2000 to 09.02.2006 under the provisions of the Foreign Trade Policy and fiscal incentives were made effective through the provisions of relevant statutes. Domestic regulations, restrictions and infrastructure inadequacies are sought to be eliminated in the SEZs for