23-698: The Cochin Special Economic Zone ( CSEZ ) is a multi-product special economic zone located at Kochi , Kerala . It is established in an area of 41.7 hectares (103.0 acres) in Kakkanad . It is a multi-product zone, with industrial units operating in Electronics Hardware, Engineering, Gem & Jewellery, IT & ITES, Agro & Food Processing, Textile & garments, Plastic & Rubber etc. Currently it has around 160 units operating employing more than 15,000 people. In FY2011-12,
46-626: A Special Economic Zone in 2003, when that system was introduced. It is operated by the Government of India , Ministry of Commerce , under the CSEZ Authority, and headed by a Development Commissioner. It is the first integrated industrial park in Kerala. The land area of the existing zone in Kochi has been fully utilized for ir. As part of expansion of CSEZ, a proposal to set up phase II of
69-593: A "reversal of fortunes" in China's dealings with foreigners since the century of humiliation . Researcher Zongyuan Zoe Liu writes that "[t]he success of these cities as 'red' treaty ports represented another step in China's overall reform and opening-up plan while legitimizing the leadership of the CPC over the Chinese state and people." Numerous African countries have set up SEZs in connection with China, including over
92-414: A 1000 line 5ESS telephone exchange exclusively for the zone. It supports all the facilities available to PSTN , ISDN and DSL customers. The cellular operators have base stations on site, and the private telecom operators also provide telephone and high speed internet services. The international gateway of VSNL is located very close to the zone, and have established an access centre on the premises of
115-802: A unit to manufacture fiber optic switches and multiplexers in April 1993. Sun Fibre Optics started manufacturing fiber optic networking products in April 1991. In recent years, the norms for value addition had been changed, facilitating the operation of gem and jewellery manufacturing units. The leading exports had been from this class in the recent years, followed by Electronics Hardware. The traditional items like readymade garments and rubber products had been on comparative decline. CSEZ currently have 160 units functioning within employing around 15,000 people. 10°00′18″N 76°20′38″E / 10.005°N 76.344°E / 10.005; 76.344 Special economic zone A special economic zone ( SEZ )
138-529: A zone, they are granted a period of lower taxation. The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI). The benefits a company gains by being in a special economic zone may mean that it can produce and trade goods at a lower price, aimed at being globally competitive. In some countries, the zones have been criticized for being little more than labor camps , with workers denied fundamental labor rights . The definition of an SEZ
161-537: Is 1.5 million litres per day. A Common Effluent Treatment facility of one million litre per day capacity is established to process all the sewage and effluents let out from units. Zone units are required to send all their sewage and effluent to this treatment plant. Units are encouraged to undergo ISO 14000 certification. There is a warehouse admeasuring an area of 24000 sq.ft. for the temporary storage requirements of CSEZ units. The Zone has an efficient drainage network and an incinerator for disposal of solid waste within
184-717: Is a trend of southeast Asian countries to develop and increase their SEZs. Since 2015, Thailand developed ten SEZs. As of 2024, Indonesia has 13 SEZs, the Philippines has 12 SEZs, and Cambodia has 31 SEZs. The term special economic zone can include: SEZs do not differ from other facilities in industrializing economies. As with any technique administered used by a globalized economy there are oversights by actors that are not domestic. Transnational criminal organizations and terrorist groups have taken advantage of Special Economic Zones and their lack of regulations. Taxation Too Many Requests If you report this error to
207-557: Is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation , trading, quotas, customs and labour regulations . Additionally, companies may be offered tax holidays , where upon establishing themselves in
230-541: Is determined individually by each country. According to the World Bank in 2008, the modern-day special economic zone typically includes a "geographically limited area, usually physically secured (fenced-in); single management or administration; eligibility for benefits based upon physical location within the zone; separate customs area (duty-free benefits) and streamlined procedures." The United States has long applied special economic rules to its outlying territories for
253-626: The Zone in 125 acres of land adjacent to the Info park in Cherthala has been mooted. CSEZ offers standard design factory floors, and plots of land for building custom buildings. There is a dedicated building for IT/ITES units, built with private participation. Power distribution, Telephone connectivity, Water supply and sewage processing are managed by the zone authority. There is on site customs facilities for easy processing of import and export. Most of
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#1732772534391276-624: The applications for setting up units was held on 7 June 1986. M/s D. V. Deo, a manufacturer of essential oils and oleoresins, conducted the first export in October, 1986. The zone is originally envisaged to support industries operating in the fields of Electronics, Computer Software, Readymade Garments, Spices, glass products, wood products, leather products, rubber products, coir-based products, food-processing, pharmaceuticals, light engineering goods, sports goods, printing, gems and jewellery, electrical appliances, hand tools, automobile parts etc. There
299-525: The next decade, the total exports has grown to ₹ 696 Crores. By the year 2009-10, the total turnover grew to ₹ 17124 crores. Even though the zone was envisaged to leverage on the cheap labour and the locally available raw materials to facilitate the units, it saw the establishment of a few units in advanced technologies. AMP Tools, a subsidiary of AMP Inc. set up a unit to produce advanced tooling, which commenced operation in July 1992. NortPak Fiber Optics set up
322-718: The opening of China in 1979 by Deng Xiaoping was the Shenzhen Special Economic Zone , which encouraged foreign investment and simultaneously accelerated industrialization in this region. These zones attracted investment from multinational corporations and allowed export-oriented Chinese businesses to respond quickly to demand in foreign markets. China continues to maintain Special Economic Zones and certain open coastal areas. Most of China's SEZs are located in former treaty ports and therefore have symbolic significance in demonstrating
345-635: The period 1990 to 2018 establishing SEZs in Nigeria (two), Zambia, Djibouti, Kenya, Mauritius, Mauritania, Egypt, and Algeria. Generally, the Chinese government takes a hands-off approach, leaving it to Chinese enterprises to work to establish such zones (although it does provide support in the form of grants, loans, and subsidies, including support via the China Africa Development Fund ). The Forum on China-Africa Cooperation promotes these SEZs heavily. As of at least 2024, there
368-522: The port entry/exit points. The zone operates a 25MVA/110KV electrical substation exclusively for the use within the zone. This is fed from the main grid of the Kerala State Electricity Board . The zone is a licensee of power distribution, and supplies power to the units via the network of underground cables. The zone is exempt from the power-cuts normally applied to the consumers at the time of shortages. BSNL have established
391-463: The procedures for starting a unit is handled by the zone authority, except a few regulatory approvals from the government. The Central Board of Excise and Customs have an office dedicated for the units in the CSEZ on the premises, and all the customs procedures for import and export can be done in the unit itself. Consignments are inspected and sealed on premises, and does not require customs processing at
414-418: The purpose of economic development. Section 936 corporate tax exemptions for Puerto Rico began with Operation Bootstrap in the 1940s and ended in 2006. The federal minimum wage for U.S. territories has in the past been lower than in the states, and as of 2024, American Samoa is still adjusting upward to the nation-wide minimum. Modern SEZs appeared from the late-1950s in industrial countries. The first
437-470: The total exports from the zone stood at ₹ 29,961 crore, recording a 63% rise in exports compared to the previous financial year. For the current financial year 2012-13, as on 30 September 2012, the total exports from CSEZ stand at ₹ 16,306 crore, ranking it the third among SEZs in the country. CSEZ was originally started as one of the first Export Processing Zone in India , and was later converted into
460-484: The zone. The CSEZ authority have established an optical fiber network that serve all the buildings, where the units can avail the connectivity for data and internet access. The zone has also set up a video conferencing facility that could be availed by the units. The Zone has its own integrated water supply system. Water is drawn from the Kadamprayar river and treated at a facility within the Zone. The system capacity
483-439: The zone. The Zone also has a 35m3 capacity bio-gas plant to treat vegetable/seafood waste. The Muthoot Technopolis is an IT Park building within the zone. The Government of India resolved to set up CEPZ, the predecessor of CSEZ, on 28 June 1983. Construction started on 1 May 1985 with an estimated cost of ₹ 15 Crores. The official notification for the establishment happened on 26 August 1986. The first board meeting to consider
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#1732772534391506-399: Was a minimum stipulated value addition of 30%, with an option to reduce it to 20% for deserving cases. During the first year, i.e. 1986-87, the zone recorded a total export of ₹ 94 lakhs, which grew to ₹ 120.31 Crores in 1995-96. The net foreign exchange earnings in this period was ₹ 200 Crores. The liberalization of the economy from 1991 boosted the performance of the zone considerably. By
529-648: Was in Shannon Airport in County Clare , Ireland . Some tax-free jurisdictions such as the Cayman Islands offer technology companies a way to keep their IP offshore in a Special Economic Zone (see Cayman Enterprise City ). From the 1970s onward, zones providing labour-intensive manufacturing have been established, starting in Latin America and East Asia . The first in China following
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