Executive Summary:
This notification announces the establishment of a Sector-Specific Special Economic Zone for IT/ITES at Rachenahalli Village, Bangalore, by Ms. Embassy Property Developments Pvt. Ltd. The Central Government has approved the project and declared an area of 2.5906 hectares as a Special Economic Zone, effective May 3, 2017. An Approval Committee has also been constituted for the zone, and the zone is designated as an Inland Container Depot under the Customs Act, 1962, from the same date.
Key Points / Main Content:
* **Establishment of Special Economic Zone:**
* A Sector-Specific Special Economic Zone is established for Information Technology and Information Technology Enabled Services (IT/ITES).
* The zone is located at Outer Ring Road, Rachenahalli Village, Bangalore, Karnataka.
* Ms. Embassy Property Developments Pvt. Ltd. is the developer.
* Approval for the zone was granted on March 2, 2017.
* **Area Notification:**
* A total area of 2.5906 hectares is notified as the Special Economic Zone.
* Specific survey numbers for the land are provided (Rachenahalli: 352P, 353A P, 371 P, 391 P, 392 B P, 403 P, 406 P).
* **Approval Committee Constitution:**
* An Approval Committee is constituted for the Special Economic Zone.
* The committee's chairperson is the Development Commissioner of the Special Economic Zone (ex officio).
* Other members include representatives from various government departments (Commerce and Industry, Foreign Trade, Customs and Central Excise, Income Tax, Banking Division), state government nominees, and a representative of the zone developer (special invitee).
* **Inland Container Depot Designation:**
* Effective May 3, 2017, the Special Economic Zone is designated as an Inland Container Depot under Section 7 of the Customs Act, 1962.
Impact Analysis:
* **Ms. Embassy Property Developments Pvt. Ltd. (Developer):**
* Impact: Responsible for the development, operation, and maintenance of the Special Economic Zone.
* Action Required: Continue with the development and operation according to the Special Economic Zones Act, 2005, and related rules. A representative will participate in the Approval Committee meetings as a special invitee.
* **Approval Committee Members:**
* Impact: Required to oversee and facilitate the functioning of the Special Economic Zone, ensuring compliance with regulations.
* Action Required: Participate in the Approval Committee, review proposals, and make decisions as per Section 14 of the Special Economic Zones Act, 2005.
* **Government of India (Various Departments):**
* Impact: Responsible for administering and regulating the Special Economic Zone.
* Action Required: Ensure compliance with the Special Economic Zones Act, 2005, and provide necessary support and oversight. Nominate representatives to the Approval Committee.
* **State Government of Karnataka:**
* Impact: The establishment of the Special Economic Zone may contribute to economic development in the region.
* Action Required: Nominate two officers (not below the rank of Joint Secretary) to serve as members of the Approval Committee.
* **Businesses operating within the SEZ:**
* Impact: Can avail themselves of the benefits and incentives associated with operating within a Special Economic Zone.
* Action required: Comply with SEZ regulations.
Key Entities Referenced
Special Economic Zones Act, 2005: An act of the Indian Parliament to provide for the establishment, development and management of special economic zones for the promotion of exports and for matters connected therewith or incidental thereto.
Customs Act, 1962: An act to consolidate and amend the law relating to customs.
Embassy Property Developments Pvt. Ltd: A real estate company that proposed to set up a Sector Specific Special Economic Zone for ITITES.
Outer Ring Road, Rachenahalli Village, Bangalore, Karnataka: The location in Karnataka where a Sector Specific Special Economic Zone is proposed to be set up.
Ministry of Commerce and Industry: A ministry of the Government of India responsible for international trade, industry and commerce.
Approval Committee: A committee constituted for the Special Economic Zone for the purposes of section 14 of the Special Economic Zones Act, 2005.
Alok Vardhan Chaturvedi: Additional Secretary, Ministry of Commerce and Industry who issued the notification.
New Delhi: Location of notification
REGD. NO. D. L.-33004/99
EXTRAORDINARY
II— — (ii)
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
1333]
No. 1333] NEW DELHI, THURSDAY, MAY 11, 2017/VAISAKHA 21, 1939
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MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
NOTIFICATION
New Delhi, the 3rd May, 2017
S.O. 1510(E).—WHEREAS, M/s. Embassy Property Developments Pvt. Ltd has proposed under
section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act),
to set up a Sector Specific Special Economic Zone for IT/ITES at Outer Ring Road, Rachenahalli Village,
Bangalore, in the State of Karnataka;
AND, WHEREAS, the Central Government is satisfied that requirements under sub-section (8) of
section 3 of the said Act, and other related requirements are fulfilled and it has granted letter of approval
under sub-section (10) of section 3 of the said Act for development, operation and maintenance of the
above sector specific Special Economic Zone on 2nd March, 2017;
NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-
section (1) of section 4 of the Special Economic Zones Act, 2005 and in pursuance of rule 8 of the
Special Economic Zones Rules, 2006, hereby notifies the 2.5906 hectares area at above location
with survey numbers given in the table below as a Special Economic Zone, namely:
TABLE
S.No. Name of Village Survey No. Area (in hectares)
1. Rachenahalli 35/2P 0.1416
2. 35/3A P 0.5156
3. 37/1 P 0.2479
4. 39/1 P 0.5158
5. 39/2 B P 0.5646II (ii) 3
6. 40/3 P 0.5615
7. 40/6 P 0.0436
Total 2.5906
AND, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1)
of section 13 of the Special Economic Zones Act, 2005 (28 of 2005), hereby constitutes a Committee to be
called the Approval Committee for the above Special Economic Zone for the purposes of section 14 of the
said Act consisting of the following Chairperson and Members, namely:-
1. Development Commissioner of the Special Economic Zone Chairperson
ex officio;
2. Director or Deputy Secretary to the Government of India, Ministry of Member ex officio;
Commerce and Industry, Department of Commerce or his nominee not
below the rank of Under Secretary to the Government of India
3. Zonal Joint Director General of Foreign Trade having territorial Member ex officio;
jurisdiction over the Special Economic Zone
4. Commissioner of Customs or Central Excise having territorial Member ex officio;
jurisdiction over the Special Economic Zone or his nominee not below
the rank of Joint Commissioner
5. Commissioner of Income Tax having territorial jurisdiction over the Member ex officio;
Special Economic Zone or his nominee not below the rank of Joint
Commissioner
6. Director (Banking) in the Ministry of Finance, Banking Division, Member ex officio;
Government of India
7. Two officers, not below the rank of Joint Secretary, to be nominated Member ex officio;
by the State Government
8. Representative of the Developer of the zone Special invitee
AND, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (2)
of section 53 of the Special Economic Zones Act, 2005 (28 of 2005), hereby appoints the 3rd May, 2017
as the date from which the above Special Economic Zone shall be deemed to be Inland Container Depot
under section 7 of the Customs Act, 1962 (52 of 1962).
[F. No. F.-1/1/2017-SEZ]
ALOK VARDHAN CHATURVEDI, Addl. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.