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In a renewed push to semiconductors and electronics components manufacturing in India, the government has amended the special economic zones (SEZ) rules to allow relaxations.
According to a gazette notification issued by the ministry of commerce and industry on Tuesday (June 3), the minimum land requirement for setting up SEZ units has been reduced to 10 hectares from 50 hectares.
The relaxations will apply to a range of electronics and semiconductor-related products, including smart watches, earbuds, display module sub-assembly, li-ion cells for batteries, camera module sub-assembly, battery sub-assembly, various types of other module sub-assemblies, printed circuit board (PCBs) and mobile and information technology hardware components.
Earlier, the SEZs were required to be “encumbrance-free,” meaning the land had to be completely free of any legal disputes or debt. But now if the land is already mortgaged or leased to the Centre or state government or their authorised agencies, it can be used to set up an SEZ.
SEZs are areas meant to attract foreign and domestic investment for economic development of the country.
(The story will be updated soon)
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