SEEPZ – Santacruz Electronic Export Processing Zone was established in the year 1973 in an area of around 10 acres. It is an uni-product EPZ. The purpose of the organization is to manufacture and export electronic products. The SEEPZ has leased the land from Maharashtra Industrial Industrial Development Corporation. Now the SEEPZ is a landmark of the Andheri East Mumbai.
The pursuits of SEEPZ are as follows:
- To rev the progress of manufacturing of electronic items in India
- To benefit from the word electronic markets such as export and foreign exchange.
In 1987-88, the govt of India permitted the SEEPZ to manufacture and export Jewellery/Gems by considering the fact of pollution-free business and its high potential. The step of govt became the changing point in the history of SEEPZ.
SEEPZ released its Special Economic Zones (SEZs) Policy in April 2000. The policy was introduced to handle the operations at SEEPZ efficiently as there were multiple controls in the company at that time. The company was lacking in world-class infrastructure, the fiscal regime was unstable, and SEEPZ aims to attract larger foreign investments in India. On the 01st of November 2000, the three Export Processing Zones of SEEPZ were converted to a single Special Economic Zone.
The policy was implemented for the economic growth of the SEEPZ and there should be quality infrastructure along with the appealing fiscal package. The SEEPZ aims at the state level and center level in India. The operation of SEEPZ was as per Foreign Trade Policy from the 1st of November to the 09th of February 2006. At that time, the SEEPZ achieved fiscal incentives via the provisions of relevant statutes and give job to a lot of people.
Objective of SEEPZ
The SPEEZ objectives are listed below.
- To promote the export of goods and service
- To promote the investment from domestic and foreign sources
- To create employment prospects
- To Develop infrastructure establishments
- To ensconce conviction in investors
- To signal the government’s commitment to a stable SEZ policy regime
- To Generate greater economic activity and employment through the establishment of SEZs
- The parliament passed the Special Economic Zones Act, for SEEPZ in the year 2005.
- SEZ Rules starts working from the 10th of February, 2006
- To provide the extreme simplification of processes
- To have a single window clearance for state and central govt matters
Total Operational Units In 37 Sezs And Eous
| For the Financial Year 2020-21 | Total Number of Units |
|---|---|
| SEEPZ SEZ | 299 Units |
| Private SEZs | 574 Units |
| EOUs | 279 Units |
| Total | 1,152 Units |
Vision Values And Mission
The electricity will be used at lower rates in the SEEPZas per the announcement from the ZDC and SEEPZ-SEZ. The cost of electricity for manufacturing setups will be from Rs 3.5 per unit to Rs 4.0 per unit. When the Colaba-Bandra- SEEPZ underground metro rail is ready to use, the connectivity at SEEPZ will be improved and enhanced. The journey will be smooth from domestic/international airports and south Mumbai. The trade partners, guests, clients, and staff will have now greasy travel to the SEEPZ.
The SEEPZ will soon introduce us to the new jewellery park at Mahape in Navi Mumbai- GJEPC, it can be seen as a jewellery township of SEEPZ. The people will be able to get handmade gold-related items at this park and it can be seen as an epicentre for the gems and jewellery industry. The jewellery will be more technical and technology-driven and it plays an integral role in gold studding.
Rising Demand
C. P. S. Chauhan, the Joint Development Commissioner of SEEPZ-SEZ has conveyed the message that they need extra space within the company as the demand for gems and jewellery is increasing. The govt has approved the budget amount of RS 250 crores to overhaul SEEPZ. The govt also appreciates the work towards the creation of better facilities within the zone like space for export.
Many units of SEEPZ are about to be expanded and there are some empty units also in SEEPZ. The SEEPZ will look at the space issue within the zone. Ministry of Commerce has facilitated the SEEPZ with the smoothless procedure towards the space expansion and management. The govt wants to utilize the land properly and not waste the land.
The member from the Ministry of Commerce, C. P. S. Chauhan, has essayed the new exit policy recently, the policy is for companies who are seeking to leave the premises. The policy will have ways to handle the business outside of the premises.
Makeover Mantras
As per the recent communication from C. P. S. Chauhan, the SEEPZ has hired consultancy services to implement the Rs 250 crore for the revamping of already present setups and also to discuss the efficient ways to create new infrastructure. The trade business must be user friendly and the business should be seamless.
The SEEPZ has progressed towards the construction of the Common Facilities Centre, CFC. The trade partners are actively participating in it. Rs 50 crore amount has been kept for the CFC. An advisory committee is looking after the project. After the completion of the CFC, the SEEPZ will hand over the CFC to GJEPC. The GJEPC will be responsible for the functioning of the CFC.
The new facilities at SEEPZ aim to attract more investment and they lead to more employment generation and more exports. There will be active participation from the trade stakeholders as per the new policy. In CFC, you will see the technically advanced skills and services. There will be better manufacturing, new procedures, and capabilities to attract new investment.
The SEEPZ is supposed to get prominent help and joint efforts from the administration and partners to make the most out of the middle. The SEEPZ will make accessible the new offices and centres soon after the revamp of SEEPZ. This will establish an honoured climate and a level battlefield for the partners to compete with their worldwide partners.
It could turn into a pinnacle for the future to grandstand how the public authority and partners can cooperate to set new benchmarks. The repair is a stunning part of the excursion of SEEPZ-SEZ. Right from developments, expertise equipping, yielding, getting new units, innovation and exotic monetary backers, this could propel our blossoming to a superior level.
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