Raheja's Special Economic Zone is the first ever engineering
sector specific SEZ to get notification in Northern India.
It was notified vide "The Gazette of India" dated 10th
March, 2008.
The project is spread over 255 acres approx. (103 hectares)
at most premium location in Gurgaon adjoining Manesar. It is
near to the Indira Gandhi International Airport, New Delhi
and will be adjoining the Kundli-Manesar-Palwal Global
Corridor and the proposed Western Railway Freight Corridor.
The development is expected to start by third quarter of the
year 2008.
The project will have 50% processing area and balance 50%
non processing area.
Special Economic Zones (SEZ) - The Concept
SEZ is a specifically delineated duty-free enclave and is
deemed to be a foreign territory for the purposes of trade
operations, duties and tariffs.
SEZ are the growth engines that would promote rapid economic
growth.
Apart from providing the state of art infrastructure, the
SEZ also provides enterprises and develops attractive
framework of incentives. The plethora of fiscal and benefits
offered by SEZs make that has economic laws that are more
liberal then a country’s typical economic laws. Consequent
substantially reduces production cost and provides the much
needed Global Edge and profitability.
No wonders, SEZs have emerged as the best option for
expansion and growth.
Indian Engineering Sector
- The Indian engineering industry forms the crucial backbone
of the economy.
- The industry can be broadly classified into heavy & light
engineering, with heavy engineering contributing 80% of the
value.
- The Indian engineering industry is estimated at more than
Rs. 120,000 crore (US $ 24.3 billion) in 2004-05 and has
been growing at a CAGR of 11% since 2001.
- Exports constitute a significant portion of engineering
goods production in India. Total engineering exports in
India crossed Rs. 81,000 crore in the year 2005-06.
- Engineering exports account for 23% of the total exports
from India. Engineering exports from Northern region in
2005-06 was around 26% of the total engineering exports by
the country.
- NCR region accounts for one third of engineering
exports from North India
Future Outlook
- The Indian Engineering Industry is expected to grow on the
back of strong business outlook and capital expenditure
plans being adopted by the companies to cater to the demand
of the industry.
- Engineering Export Promotion Council (EEPC) has set an
export target of US $ 100 billion for the engineering
industry by 2016.
- The Engineering Process Outsourcing (EPO) service from
India has potential to exceed US $ 40 billion by 2020,
raising the country’s share in the EPO market to 30%.
North India contributes around 26% of the engineering
exports from India.
Owing to a significant growth potential of engineering goods
exports from India, Exports from north are projected to grow
at a CAGR of 11.5% from INR 231 billion in 2007 to INR 540
billion in 2015.At the NCR level, the engineering exports
are likely to grow at a ratio of 11.5% from INR 76 billion
in 2007 to INR 183 billion in 2015. The thrust of
engineering goods exports from NCR will be provided by
industrial hubs like Gurgaon, IMT Manesar, Noida, and
Faridabad. Any entity that sets up its full/part production
facility in our SEZ will get substantial benefit on account
of duties & taxes.
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