The Govt relaxes the minimum land requirement for SEZs
The government has revised the minimum land requirement and categorization of Special Economic Zones (SEZs). The new law will now permit the co-existence of any SEZ from any sector with others.
From now onward, all existing and new SEZs would become multi-sector enclaves and help in the co-existence of such organizations from any other sector. Earlier, the rules were sector-specific preventing the presence of several sectors within one SEZ.
The govt has also made easier the terms ruling the minimum land requirement and also simplified the rules.
Now, the minimum land needed for establishing a multi-product SEZ has been changed from 500 hectares to 50 hectares.
Likewise, the minimum built-up area for services has also been reduced. The action may help open the potential of SEZs to attract investments and boost exports.
