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Thursday, September 24, 2009

The New Engineering SEZ in Karnataka, India

By Brian Warren

In recent times the manufacturing sector has been gearing up for new initiatives due to technological advancements in the field of design and manufacturing. Also, due to the widespread availability of manufacturing services the sector is able enhance their productivity levels, which will be reflected in the steep rise in overall operating efficiency.

In India there are Special Economic Zones (SEZ) now created to aid the simultaneous growth of manufacturing services. In India, the Karnataka SEZ has been created to cater to services of design, and manufacturing and precision engineering services.

Experienced and reliable global players will be able to adapt to globalization practices in design and manufacturing. They can understand the gaps to be filled in terms economics, infrastructure, bottlenecks, regulatory approvals and skilled manpower. So when such companies operate in the SEZ, it can be a major driving force for their clients.

The SEZ that has come up in Belgaum, Karnataka India is a precision engineering and manufacturing SEZ, which is spread across 300 acres. It has been set up with the main motive of providing development of the precision engineering and manufacturing supply chain ecosystems, which will in turn aid in the growth of manufacturing industries.

The Belgaum Special Economic Zone offers a 360 degree offering complete with the design to build services, right from concept design to the finished product. They also cater to all-round support for the aerospace, automotive and industrial engineering sectors.

The new Karnataka SEZ comes with multiple tax benefits and incentives. It has been attracting significant Foreign Direct Investments into India. Investors also get the opportunity to work alongside global business leaders in different sectors like aerospace and automotive.

If new SEZ can come up across the Indian subcontinent, a developing nation like India would benefit tremendously from the outcome. Similarly, when other nations are able to have their own SEZ working in tandem with their industry specific clients close by, industries can realize high economical benefits from them. - 21392

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