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