Surat SEZ exceeds 2003-04 target

Target for full year revised from Rs 500 crore to Rs 800 crore

The Surat Special Economic Zone (SurSEZ) has exceeded its exports target for the year 2003-04.

The country's only private sector special economic zone has logged exports of over Rs 570 crore in the 10 months to January 2004 compared with the target of Rs 500 crore for the full year. The target for the year has now been revised to Rs 800 crore.

"We have not only exceeded the earlier target for the year but are also likely to cross the new target of Rs 800 crore by the end of March," N K Gaur, chief executive officer of SurSEZ, said.

Owing to its unique locational advantages, SurSEZ has seen the number of units swelling from 112 at the beginning of the current fiscal to 161 by January 31 this year.

Interestingly, of the new LOPs (letters of permission) issued, 20 are for diamond cutting and jewellery designing units.

To cater to the manpower requirements of these units, the Diamond and Gems Development Corporation (DGDC), the parent body of SurSEZ, has set up a state-of-the-art jewellery design institute, which has commenced operations from December last.

Similarly, to cater to the banking and finance needs of the units, the State Bank of India has set up its overseas banking unit in SurSEZ. This is the first such branch of SBI in Gujarat and the fifth in the country.

Amongst the units set up in SurSEZ are those dealing with diamond, jewellery, engineering, textile, pharma, biotech, laser machinery, life saving medical equipment etc.

Some of the units located in SurSEZ are Himson Engineering, Suraj Diamonds, Geetanajali Exports (manufacturers of the famous Nakshetra brand of diamonds and Gili Jewellery), Barmecha Impex (an Israel based diamond cutting and polishing firm), Sky Industries (the largest manufacturers of narrow fabrics), Peass Engineering, Zytex (a bio-tech firm), Marigold (manufacturer of steel utensils), Adorn Goelli, Sahjanand Medical, Sahjanand Laser Technology, Laser SOS, R Ramesh and Company and Sykes Industrial Pumps of Australia.

In the Surat SEZ, basic infrastructure is provided such as developed land for construction of factory sheds, roads, power, water supply and drainage.

In addition, custom clearance is arranged within the zone at no extra cost. Provision is made for post office facilities and offices of clearing agents in the service centre of the zone. Surat Inland Container (ICD) is next to SurSEZ, so even the custom clearance is hassle free, Gaur said.

SurSEZ offers many benefits to unit holders. Some of the tax benefits include nil import duty, nil central excise duty, nil central sales tax, nil state sales tax, nil state purchase tax, nil stamp duty and nil octroi.

According to Gaur, SurSEZ has an excellent location on the golden corridor. SurSEZ is in the centre of an industrialised belt stretching from Ahmedabad to Vapi and it is well connected with major ports, rail and roads.