A
policy was introduced on 1.4.2000 for setting up of Special
Economic Zones in the country
with a view to provide an internationally competitive and hassle free
environment for exports.Units may be set up in SEZ for manufacture of
goods and rendering of services. All the import/export operations of
the SEZ units will be on self-certification basis. The units in the
Zone have to be a net foreign exchange earner but they shall not be
subjected to any pre-determined value addition or minimum export
performance requirements. Sales in the Domestic Tariff Area by SEZ
units shall be subject to payment of full
Custom Duty and import policy in force. Further Offshore banking units
may be set up in the SEZs.
