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ARTICLE · 17 AUGUST 2015

SEZs: A New Avenue For Insurers & Reinsurers

Tuli & Co
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Special Economic Zones (or SEZs as they are popularly referred to) have been established in India to promote trade and investment by enabling industries to produce and trade goods at globally competitive prices.

IndiaInsurance
Celia Jenkins
Celia Jenkins
Neeraj Tuli
Neeraj Tuli
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Special Economic Zones (or SEZs as they are popularly referred to) have been established in India to promote trade and investment by enabling industries to produce and trade goods at globally competitive prices. In order to encourage businesses to set up in SEZs, liberal policies are introduced and some forms of exemptions are provided in relation to, inter alia, taxation, trading and customs/excise norms.

The Special Economic Zones Act 2005 (SEZ Act) was enacted with the primary aim of providing a mechanism for the establishment and operation of SEZs. The decade following the enactment of the SEZ Act witnessed the establishment of SEZs across India and increased contribution by the SEZs to the trade and economic growth of the nation.

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