Special Economic Zones
SPECIAL ECONOMIC ZONES
Rajasthan's location, with proximity to the Delhi International Airport and ports of the western coast, makes it an ideal location for export-oriented industrial development on a large scale. 40% of the proposed Delhi-Mumbai freight corridor will pass through Rajasthan throwing up enormous possibilities for development of industrial belts such as special economic zones along the corridor. The prime objective of the Government is to develop specially delineated economic zones to provide enabling infrastructure and a hassle-free environment to promote exports from the State. Special emphasis is laid on development of product specific Special Economic Zones to harness inherent potential of the State in the fields of Gems & Jewellery, Handicrafts, Woollen Carpets, etc.
Six SEZs with an expected investment of 165.15 billion have already notified. These are:
Mahindra World City (Jaipur) Ltd., Jaipur
Somani Worsted Ltd., Khushkeda, Bhiwadi, Alwar
Genpact Infrastructure (Jaipur) Pvt. Ltd., Jaipur
Vatika Jaipur SEZ Developers Ltd., Jaipur
Mansarovar Industrial Development Corporation, Jodhpur
RNB Infrastructure Private Limited, Bikaner (270 crore)
Potential exists for SEZs in
Gems & Jewellery
Multi Services (R&D, Education, Bio-technology, ITeS)
Agro based products
Free trade and warehousing
Generation of energy through renewal sources (Solar, Wind)
Textile & Garments
Incentives & facilities
Land conversion @ Rs100 to developers in rural areas
100% exemption on stamp duty to developers and also to units in RIICO SEZs
50% exemption to units from electricity duty for 7 years
100% exemption from work contract tax to units and developers for 7 years
100% exemption from entry tax to units on capital goods brought into local areas by the unit required for use as capital goods for setting up industry in SEZ.
100% exemption from VAT to units on sale or purchase by a registered dealer being an industrial unit established in SEZ of goods specified in the certificate of registration, for the purpose of exclusive use in the manufacturing of goods for sale in the course of export out of the country.
100% exemption from luxury tax for 7 years
50% exemption from entertainment tax for 7 years
New SEZ Act is also under consideration and after enactment of the new SEZ Act; some additional incentives would also be available to SEZs.
Source: Bureau of Investment Promotion (http://www.investrajasthan.com)