Beyond Borders - December 2018
13 December 2018
BDO in India presents Beyond Borders - The Customs & International Trade Journal. The monthly issue of the C&IT journal covers recent developments in the world of Customs & Foreign Trade in India, current global & technological trends and insights from eminent faces in the trade.
Cover story on Relevance of Special Economic Zones in India for trade
Conceptually, SEZs are strategic locations which address structural and institutional bottle-necks arising from infrastructural deficiencies, procedural complexities, bureaucratic hassles and other restrictive policies common in developing countries like India. While India was one of the first few countries in the world to recognize the need for dedicated export focused enclaves as early as in the late 1960s, the vision for having many SEZs around the country was felt only a decade and half back. They offer an enabling investment climate to attract both off-shoring and outsourcing activities. There are 223 operational SEZs in the country and the total investment made in the zones so far is ₹18,878 crore. Within the SEZ Act, 2005, there is a dedicated enclave envisaged only for entities engaged in cross-border trading in goods. This enclave is titled as FTWZ under the said Act. The FTWZ facility could benefit overseas businesses exporting to South Asia or even South East Asia
We hope you have an insightful read.