<center><b>Webinar</b></center>
  <center><b>POST COVID19 - Opportunities in Indian SEZs</b></center>
  <center><b>Day & Date: Wednesday, April 22, 2020</b></center>
  <center><b>Time: 2:30 p.m. to 4:00 p.m.</b></center>
  <center><b>Brief Report</b></center>
  <p style='text-align:justify;'>ASSOCHAM in association with EPCES organized a Webinar on POST COVID-19 - Opportunities in Indian SEZs
  at 2.30 p.m. on April 22, 2020. Dr. L B Singhal, Zonal Development Commissioner, Noida SEZ & other SEZs of
  North India was the Chief Guest and delivered the keynote address. Other key panelists included Shri R
  Muthuraj, Development Commissioner, Sri City SEZ, Shri Bhuvnesh Seth, Vice Chairman, EPCES, and  
  Hiternder Mehta, Co-chair, SEZ council ASSOCHAM.</p>
  <p style='text-align:justify;'>Discussions were focused on the likely impact on the overall economy and the post COVID-19 opportunities
  in SEZs. Dr. Singhal mentioned that in a new world order which will emerge post COVID-19, India will offer
  tremendous opportunities for investment into new projects in SEZs, as there are easy and fast approvals with
  ready infrastructure for both small and large businesses. In the time to come, opportunities in the services
  sector like health, aviation, education, and tourism will also increase apart from the manufacturing.. There will
  be good opportunities for EOUs as they are capable of creating hubs in different economic activities. EOU
  scheme provides an additional advantage of geographical location as these could be set up anywhere in the
  country.</p>
  <p style='text-align:justify;'>Presently, in India, 240 SEZs are operational with infrastructure development of 40,000 hectare land and
  availability of 22,000 hectare land for the establishment of new units into SEZs. All the key approvals relating
  to land titles, environment, and infrastructure development of these SEZs are in place. In addition, there exists
  an effective single window approval mechanism.</p>
  <p style='text-align:justify;'>Indian SEZs provide direct employment to 2.2 million people and 3 times more is the indirect employment due
  to backward and forward integration. Investment of approx. USD 77 billion US Dollars has been made so far.
  The exports from the operational SEZs for the year ended 31st March 2019 stood over USD 100 Bn.</p>
  <p style='text-align:justify;'>  Hitender Mehta, Co-Chairman, ASSOCHAM's National Council on SEZs mentioned that cost of setting-up
  a unit is very competitive (approx. 20% lesser). All imports into, and exports from, SEZs are duty-free. There
  is no implication of Goods and Services Tax (GST) on the lease rentals paid by the SEZ Units. Moreover, the
  SEZ units may sell their goods to the Indian marketplace as well by paying applicable customs duties on such
  goods (as if such goods are being imported into India). In addition, a friendly foreign investment regulatory
  framework, availability of low-cost labour and raw materials, make the SEZs a best case. These benefits are
  attractive enough for the investors seeking to move their manufacturing base/ services operations into India.</p>
  <p style='text-align:justify;'>During the interactive session, Dr. Singhal also took questions from the participants. The major clarification
  provided by Dr. Singhal included queries related to the MHA order on opening the SEZ activities from 20th April
  2020, approval processes for exporters and investors in SEZs, various benefits being offered by SEZ in India,
  and current operational issues and future scenarios.</p>
  <p style='text-align:justify;'>The Webinar was attended by 180 representatives of industry, which included participation from Japanese,
  Korean, and UK companies. Some participants from UAE and USA also joined the session
  It was also highlighted that the Government has done commendable job in managing the lives and livelihoods
  by taking timely initiatives. Ministry of Commerce has responded positively by extending foreign trade policy
  provisions for one more year. It was expected that in long run India will bounce back and would take a lead in
  economic activities.</p>