| Pick up any national or international newspaper, all | | | | significant progress has already been made. Being |
| have one thing in common that is, Navi Mumbai - SEZ. | | | | strategically located, the Navi Mumbai SEZ (NMSEZ) is |
| Yes, this has become the latest focus of | | | | spread over an area of around 50 square kilometers. |
| conversation not only in India but also in majority of | | | | Furthermore, it is also linked with well-developed road |
| the Asian countries. Special Economic Zone or | | | | and rail linkages as well as one of India's largest and |
| popularly known as SEZ is planned to be set up in | | | | most modern seaports - Jawaharlal Nehru Port Trust |
| India's most advanced and populace state | | | | ("JNPT").Equally backed with world-class infrastructure |
| Maharashtra. And Navi Mumbai (or New Bombay) is | | | | and services, units can be selected between land |
| the place identified for its set up. Known as the | | | | plots, flatted factories and built-up office space. Also |
| economic powerhouse of India, Maharashtra is the | | | | infrastructure is widespread in terms of convention |
| best place to kick start this SEZ.Literally SEZ means | | | | centers, recreational facilities and social amenities. |
| "delineated duty-free enclaves that are deemed | | | | CIDCO being the co-promoter to the project, it is |
| foreign territories for the purposes of trade | | | | ensured that NMSEZ will be powerfully supported |
| operations, duties and tariffs". With the setting up of | | | | with a stringent administrative setup. This will seal the |
| zones, majority units may be set-up for the | | | | smooth implementation of the project, along with an |
| manufacture of goods, provisioning of services, and | | | | easy access to a quasi-government body that would |
| other activities including processing, assembling, | | | | ultimately facilitate the interaction between NMSEZ |
| trading, repairing, reconditioning, making of gold/silver, | | | | and the Government of Maharashtra. Currently, |
| platinum jewellery etc. The main USP is that the | | | | CIDCO is in the development process of chalking out |
| whole policy allows 100 per cent foreign direct | | | | the development phasing plan. They have also |
| investment ("FDI") in most manufacturing | | | | proposed to finalize the development phasing plan in |
| activities.Completely backed by the Government of | | | | consultation with the prospective strategic |
| India, various SEZs will be set up throughout the | | | | investors.Moreover, CIDCO also proposes to transfer |
| country. Their main aim is to provide an internationally | | | | land development rights in a phased manner which will |
| competitive and hassle-free environment for exports. | | | | be directly linked to achievement of agreed upon |
| Apart from that, these zones are designated | | | | development milestones. In short, whole NMSEZ |
| duty-free enclaves, and are deemed foreign | | | | project is proposed to be executed through a Special |
| territories for the purpose of trade operations, duties | | | | Purpose Vehicle or "SPV". Thus, it won't be wrong to |
| and tariffs. Also the Policy offers several fiscal and | | | | say that in coming years not only Maharashtra but |
| regulatory incentives to developers of the SEZs as | | | | the whole of India will undergo an economic |
| well as units within these zones.Amazingly this project | | | | revolution and this will, in turn also put India on the |
| has already been kick started, and one of the largest | | | | global economic map.The author is dynamic web |
| SEZs in India has already been set-up in Navi Mumbai. | | | | content writer and budding SEO. He has got the |
| City & Industrial Development Corporation of | | | | experience in writing quality content for various |
| Maharashtra or "CIDCO" is the prime agency, looking | | | | websites and getting them optimized too. You can |
| after the development of the SEZ and lately | | | | view his website for more information. |