SEZs to be revamped, allowed to sell in domestic market

05 Jul 2022 CW Team

India plans to reorient its Special Economic Zones (SEZs) into industrial hubs that will focus on boosting manufacturing for the domestic market rather than only selling abroad. The SEZs were conceived as vehicles to attract foreign investment and boost exports.

Now aiming to increase manufacturing and employment rather than just exports, the revamped SEZs will be renamed Development of Enterprise and Service Hubs (DESH), according to a draft bill to be introduced in the monsoon session of parliament.

They will be freed from many of the rules that burden SEZs: for instance, they will no longer be required to be net foreign exchange positive and will be allowed to sell in the domestic market much more easily, according to a report in the Mint. Moreover, the units operating in these hubs will no longer benefit from direct tax incentives, which will be scrapped, making the hubs compliant with World Trade Organization (WTO) rules.

According to the draft DESH Bill reviewed by Mint, the development hubs will be allowed to sell outside the demarcated area or in the domestic market with duties only to be paid on the imported inputs and raw materials instead of the final product.

Also Read:
UP government to introduce a new MSME policy soon
PM Modi focuses on 8 infra projects

Equipment

12 Dec 2025

Escorts Kubota Unveils BS V Next-gen Construction Range at Excon 2025

Escorts Kubota (EKL), one of India’s major engineering groups in the agricultural and construction equipment sectors, unveiled its latest BS V–compliant construction machinery line-up at Excon 2025. The refreshed portfolio underscores the company’s push toward application-driven, high-productivity solutions that reduce ownership costs and meet the needs of India’s expanding infrastructure landscape. With demand rising across urban development, industrial logistics and mining, the new range aims to deliver higher performance, durability and operator comfort.In the earthmoving segment, E..

ACE and Kotak Mahindra Bank Join Hands to Boost Backhoe Loader Financing

Action Construction Equipment (ACE), the world’s largest Pick-n-Carry crane maker and a leading manufacturer of material handling and construction equipment in India, has entered into a Memorandum of Understanding with Kotak Mahindra Bank to enhance the availability of flexible financing options for backhoe loader customers across the country.The collaboration aims to support contractors, infrastructure companies, entrepreneurs, SMEs, and emerging businesses by offering smoother access to credit through customised loan schemes, quicker turnaround times, and the extensive footprint of Kotak M..

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..