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Ganeshnagar declared SEZ
Correspondent KOHIMA, JUL 21 (NPN):
Published on 22 Jul. 2009 12:53 AM IST
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The Government of India has specified 50.70 Hectares of Ganeshnagar Industrial Area as Special Economic Zone (SEZ) for Agro and food processing sectors. The ministry of commerce and industry on July 9 issued the notification declaring Ganeshnagar under Dhansari sub-division, Dimapur district as SEZ which is the first SEZ in NE region. Parliamentary secretary industries and commerce, Dr. KC Nihoshe informed this in a press note issued here today. The Nagaland Industrial Development Corporation (NIDC) had earlier proposed for the SEZ under section 3 of the Special Economic Zone Act, 2005 to setup a sector specific Special Economic Zone for Agro and Food Processing Sector at Ganeshnagar. Government of India has also constituted a committee to be called the Approval Committee for the above SEZ for the purpose of the said Act and also declared that the above Sector Specific Special Economic Zone shall be deemed to be Inland Container Depot/ Port under Section 7 of Custom Act, 1962. While there are many SEZs spread all over the country, the SEZ at Ganeshnagar is the first of its kind in the entire North East Region with NIDC as Developer. Special Economic Zone is a specifically delineated duty free enclave and shall be deemed to be foreign territory for the purpose of trade operation and duties and tariffs is deemed to be a territory outside the custom territory of India for the purpose of undertaking the authorized operations. The various special fiscal provisions included - duty free goods for development of SEZs as well as for SEZ units, exemption from income tax to SEZ units for 15 years, (5 + 5+ 5), goods and services going into the SEZ area from DTA shall be treated as exports and goods coming from the SEZ area into DTA shall be treated as if these are being imported. Moreover, SEZ unit may import / procure from the DTA without payment of duty all types of goods and services, including capital goods, whether new or second hand, required by it for its activities and also100 % sale of SEZ Products in domestic tariff area allowed on payment of custom duty etc. While stating this, the note also stated that the setting up of the SEZ for Agro & Food Processing Sector would be a major boost for the farmers in Nagaland. A number of industrial sectors involved with Agro and Food Processing have indicated interest in establishing units in the SEZ. Korean investors have also indicated interest in establishing a ginger-processing unit in the SEZ, the note also revealed. It stated that the SEZ in Nagaland being the first in the whole North East Region was expected to attract a number of investors. The SEZ is located at the erstwhile Export Promotion Industrial Park (EPIP) developed by NIDC. The EPIP in Nagaland could not take off successfully as similar EPIPs had come up in neighbouring states of Assam and Meghalaya offering the same incentives and facilities. Further, the performances of similar EPIPs in the NE Region were reportedly not satisfactory as the industrial units were unable to meet the export obligations envisaged under the EPIP scheme.

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