Sez Act of Tamil Nadu 2003
Special Economic Zones
Policy of Government of Tamil Nadu 2003
Preamble The Government of India have announced the concept of Special Economic Zones (SEZs) in the year 2000 through a revision in the EXIM Policy 1997-2002 with a view to provide an internationally competitive and hassle free environment for export production. These SEZs are virtually deemed to be a foreign territory within the country free from all the rules and regulations governing the import and export. The SEZs are specifically treated as duty free enclaves for the purpose of industrial, tariff, service and trade operations with exemption from customs duties and a more liberal regime on levies, foreign investment and other transactions. The domestic regulations, restrictions and infrastructure inadequacies are sought to be removed for creating an investor & industry friendly environment. As per the Government of India guidelines, SEZs can be developed in the public, private or joint sectors or by the State Governments or their agencies. They are expected to promote establishment of large, self-contained areas supported by world-class infrastructure oriented towards export production. Exploiting the full potential of the concept of SEZs would bring large dividends to the State in terms of economic and industrial development and the generation of new employment opportunities. The State Agency viz., Tamil Nadu Industrial Development Corporation Limited has taken the lead to set up a SEZ at Nanguneri in Tirunelveli district. In the context of Government of India guidelines for the establishment of SEZs, the Government of Tamil Nadu has decided to adopt the following policy that will be applicable to all SEZs in the State of Tamil Nadu, subject to the framework for SEZs determined by the Government of India from time to time.
1. Legislation Support A Central legislation is being brought out for (I) Delineation of area limits (ii) Constitution of a Board for Approval (iii) Establishment of a
Policy of Government of Tamil Nadu 2003
Preamble The Government of India have announced the concept of Special Economic Zones (SEZs) in the year 2000 through a revision in the EXIM Policy 1997-2002 with a view to provide an internationally competitive and hassle free environment for export production. These SEZs are virtually deemed to be a foreign territory within the country free from all the rules and regulations governing the import and export. The SEZs are specifically treated as duty free enclaves for the purpose of industrial, tariff, service and trade operations with exemption from customs duties and a more liberal regime on levies, foreign investment and other transactions. The domestic regulations, restrictions and infrastructure inadequacies are sought to be removed for creating an investor & industry friendly environment. As per the Government of India guidelines, SEZs can be developed in the public, private or joint sectors or by the State Governments or their agencies. They are expected to promote establishment of large, self-contained areas supported by world-class infrastructure oriented towards export production. Exploiting the full potential of the concept of SEZs would bring large dividends to the State in terms of economic and industrial development and the generation of new employment opportunities. The State Agency viz., Tamil Nadu Industrial Development Corporation Limited has taken the lead to set up a SEZ at Nanguneri in Tirunelveli district. In the context of Government of India guidelines for the establishment of SEZs, the Government of Tamil Nadu has decided to adopt the following policy that will be applicable to all SEZs in the State of Tamil Nadu, subject to the framework for SEZs determined by the Government of India from time to time.
1. Legislation Support A Central legislation is being brought out for (I) Delineation of area limits (ii) Constitution of a Board for Approval (iii) Establishment of a