SEZ/FTWZ/Mega food Parks
A special economic zone (SEZ) refers to designated areas in countries that possess special economic regulations that are different from other areas in the same country. Moreover, these regulations tend to contain measures that are conducive to foreign direct investment. Conducting business in a SEZ usually means that a company will receive tax incentives and the opportunity to pay lower tariffs.
FTWZ (Free Trade and Warehousing Zones was announced in the Foreign Trade Policy 2004-09 to set up Free Trade and Warehousing Zones (FTWZ) to create trade related infrastructure to facilitate the import and export of goods and services with freedom to carry out trade transactions in free currency.
FTWZ is designated as a deemed foreign territory and are envisaged to be integrated zones and to be used as International Trading Hubs. FTWZs will be fully independent mega-trading hubs integrated with state-of-the-art warehouse and special storage infrastructure, Container Freight Stations, Environment friendly equipment, Rail sidings for hinterland connectivity, Commercial complexes for offices, Independent utility stations, banks and insurance corporations added to recreational and eventual residential complex for the FTWZ workforce.
The Free Trade and Warehousing Zones (FTWZ) is a special category of Special Economic Zone and is governed by the provisions of the SEZ Act and the Rules.
MEGA FOOD PARKS
The Mega Food Park is an inclusive concept which is aimed at establishing direct linkages from the farm to processing and on to the consumer markets, through a network of collection centers and Primary Processing Centers.