Gujarat Industrial Development Corp is proposed to set up a product specific SEZ (Special Economic Zone) for glass & ceramics at Jaghadia in an area of 170 hectares. The venture will throw open employment opportunities to the localities in a substantial way. The SEZ, announced by the Indian Government, enables the creation of SEZs in the country, with a view to provide an internationally competitive & hassle-free environment for exports. These zones are designated duty-free enclaves & are deemed foreign territories for the purpose of trade operations, duties & tariffs. The policy offer several fiscal & regulatory incentives to developers of the SEZ as well as units within these zones. The Indian market for glass & glazing is currently valued at US$450M. It is poised for a steady growth of 10% in the next 3 years or so.
