Falta Special Economic Zone(earlier FEPZ) was set up by the Government of India in the year 1984. This has now come under the purview of the SEZ Act & Rules with effect from 10th February, 2006 in terms of Government of India Notification No. S.O.196(E) dated 10.02.2006.
Any goods and services exported out of, or imported into, or procured from the Domestic Tariff Area by, a Unit in the Special Economic Zone or a Developer will subject to certain terms, conditions and limitations as prescribed in Rule 22, Chapter IV of SEZ Rules, be exempted from the payment of taxes, duties or cess.
- Effective investment host for the industry
- Foreign trade profile consistent with local factor endowments
- High rate of growth and rising share in the overall exports
- Ease of entry and lower cost of operation
- Most resource efficient scheme for export enhancement
- Strong linkage with industrial capacity