Global Economic zones Expo & Convention
CAIRO, 6 March 2019: Over the last decade or so, India is witnessing increasing interest to promote the export-oriented manufacturing sector through Economic Zones (EZs). EZ is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs. In order words, EZs is a geographical region that has economic laws different from a country's typical economic laws. FTZs, also known as commercial-free zones, are fenced-in, duty-free areas, offering warehousing, storage, and distribution facilities for trade, transhipment, and re-export operations. EOUs are units undertaking to export their entire production of goods. EOUs can be engaged in manufacturing, services, development of software, repair, remaking, reconditioning, re-engineering including making of gold / silver / platinum jewellery and articles. Further, units involved in agriculture, agro-processing, aquaculture, animal husbandry, bio-technology, floriculture, horticulture, pisciculture, viticulture, poultry, sericulture and granites can also obtain the status of EOU.
About GEZ Expo & Convention 2019
• The only global expo dedicated to the strategic development of Economic Zones, and the development of the country through trade and industry.
• The three-day international event will be held in the Jaipur Exhibition and Convention Centre (JECC) - the South Asia’s Largest Purpose-built, State-of-the-Art Convention Facility at Jaipur, to host participants from around the country and the world.
• The expo will be a turning point for EZs and EOUs to showcase their capabilities to produce and supply quality products at the right prices and the right time.
• The expo will support trade facilitation and investment promotion in EZs, and foster entrepreneurship activities.
• The expo will be a great place to do business (B2B) for new and expanding firms. It will connect global businesses with local businesses through various EZ schemes.
• The expo will provide a unique opportunity for the government and the private sector to enrich their knowledge and gain strategic advantage in achieving FDI and promoting exports.
With India poised to be the third largest global economy by 2030, a key policy of the Ministry of Commerce and Industry (Government of India) is to establish Free Trade Zones (FTZs) / Economic Zones (EZs) / Export Oriented Units (EOUs), in the country to:
● Attract foreign and domestic investment
● Boost production for domestic consumption, and for exports
● Develop India as a host nation for global manufacturing under the Make in India programme
● Deliver long-term, sustainable growth based on cutting-edge technology and enterprise
● Build supply chains
● Create skilled jobs
● Build well-functioning infrastructures
● Be the driving force of local economies as they unlock key development sites Play a critical role in developing international markets, etc.
Discover and learn more about the expo at www.gezexpo.com