India - नोएडा स्पेशल इकनॉमिक ज़ोन
Established in 1985, Noida Special Economic Zone (NSEZ) sprawls over 310 acres in Noida Phase-II, positioning itself as the sole SEZ in northern India. The strategic location, offering proximity to Delhi, and abundant skilled manpower make NSEZ an ideal hub for export-oriented industrial sectors.
The NSEZ boasts excellent infrastructure, supportive services, and sector-specific facilities. It comprises 202 plots of varying sizes, 13 Standard Design Factory Blocks, and accommodates 208 units. Notably, there are exclusive blocks for trading service units, emphasizing the zone’s comprehensive approach.
Sector Focus at Noida Special Economic Zone
NSEZ focuses on export-led industrial sectors, with a particular emphasis on gems and jewellery and electronics/software. These sectors have significantly contributed to over 50% of the annual export turnover. The zone, as an inland SEZ, caters to high-value, low-volume, and skill-intensive products, fostering a conducive environment for growth.
Customs Wing ensures swift clearances of export/import consignments. The zone features in-house post and telegraph offices, sub-foreign post offices, insurance and banking facilities, including ATMs, courier services, industrial canteens, executive restaurants, and travel/customs forwarding agencies. An extension counter of Punjab National Bank collects Central Excise and Customs duties.
Sector-specific infrastructure has been developed for software and gems & jewellery units. A satellite data link facilitates software exports, and NSEZ houses two exclusive complexes for jewellery units. MMTC provides gold supply and packing credit facilities, while the Central Warehousing Corporation aids in handling and storing jewellery cargo.
Incentives and Benefits at Noida Special Economic Zone
The NSEZ offers a range of benefits to companies, including tax and customs incentives. Businesses operating within the zone may enjoy exemptions or reductions in customs duties, income tax benefits, and simplified export-import procedures. The zone operates as an Inland Container Depot (ICD) under the Customs Act, 1962, streamlining cargo movements.
The establishment of NSEZ has catalyzed the creation of numerous employment opportunities in the region. The diverse range of industries and companies within the zone has contributed to the growth of the local economy and job market.
The Noida Special Economic Zone operates under the SEZ Act of India, providing a robust legal framework for its establishment, operation, and regulation. This act ensures adherence to guidelines governing special economic zones in the country.
Promoting Export-oriented Activities
The primary objective of NSEZ is to boost exports from India by encouraging businesses to engage in export-oriented production, services, and trade activities. This approach aligns with the national agenda of fostering economic growth through increased exports, contributing to the country’s overall economic development.
NSEZ boasts 202 plots of various sizes and 13 Standard Design Factory Blocks, accommodating 208 units. The zone provides world-class infrastructure, including access to a global telecommunication network, uninterrupted power supply, and an efficient local transport system. The customs wing ensures swift clearances for export/import consignments.
The zone has strategically developed infrastructure for software and gems & jewelry units. It offers satellite data link facilities for software exports and has two exclusive complexes for jewelry units. This sector-specific approach is aimed at encouraging high-value, low-volume, and skill-intensive manufacturing.
Tax and Customs Benefits at Noida Special Economic Zone
One of the distinctive advantages of operating within NSEZ is the array of tax and customs benefits extended to businesses. These include exemptions or reductions in customs duties, income tax benefits, and simplified export-import procedures.
The establishment of NSEZ has not only fueled economic growth but also generated numerous employment opportunities. The diverse range of industries operating within the zone spans information technology (IT), IT-enabled services (ITES), electronics manufacturing, textiles, engineering, pharmaceuticals, and more.
The functioning and administration of NSEZ align with the Special Economic Zone (SEZ) Act of India. This legislative framework governs the establishment, operation, and regulation of special economic zones throughout the country.
Promoting Export-Oriented Activities
At its core, NSEZ operates with the primary objective of bolstering India’s exports. It encourages businesses to engage in export-oriented production, services, and trade activities, contributing significantly to the country’s overall export sector growth.
In conclusion, Noida Special Economic Zone stands as a testament to India’s commitment to fostering economic growth through strategic zones that provide a conducive environment for businesses, offering a perfect blend of infrastructure, incentives, and sector-focused development.