The Union government has cleared Rs 13,100 crore worth two major projects by Micron and Aequs as it eases special-economic-zone rules to attract semiconductor and electronics investments.
Micron is set to establish an SEZ facility in Sanand, Gujarat, spanning 37.64 hectares, with an estimated investment of Rs 13,000 crore. Meanwhile, Hubballi Durable Goods Cluster Pvt. (Aequs Group) will set up its SEZ in Dharwad, Karnataka, over 11.55 hectares, focused on manufacturing electronic components, with an investment of Rs 100 crore, according to a release by the Ministry of Commerce & Industry on Monday.
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The Department of Commerce, in a notification dated June 3, announced revisions in SEZ Rules, 2006, aiming to encourage leading-edge investments, streamline regulations and enhance India's role in the global semiconductor supply chain.
One key change under the amended Rule 5 reduces the minimum land requirement for SEZs dedicated to semiconductor or electronics component manufacturing from 50 hectares to just 10 hectares of contiguous land.
Another key change under Rule 18 now permits SEZ units in these sectors to sell their products in the domestic market, provided they pay the required duties.
Additionally, changes to Rule 7 empower the board of approval to waive the condition that SEZ land must be encumbrance-free, provided the land is mortgaged or leased to the central or state government or their authorised agencies.
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