Micron & Aequs to Set Up SEZs in India After Policy Reforms

The Indian government’s Special Economic Zone (SEZ) Board has given the green light to Micron Semiconductor Technology India and Aequs Group to build SEZs for semiconductor and electronics manufacturing. It illustrates how the Indian electronics industry is gaining strength with recent policy changes.

Micron plans to create a 37.64-hectare SEZ in Sanand, Gujarat, at a cost of Rs 13,000 crore, to help improve the county’s semiconductor capabilities. On the other hand, Aequs will spend Rs 100 crore to create an 11.55-hectare SEZ in Dharwad, Karnataka, dedicated to making electronic components.

• Micron and Aequs got SEZ approval, boosting local tech manufacturing.
• SEZ land rules were eased to attract more high-tech investments.
• New norms support easier domestic sales and export flexibility.

The government’s update of SEZ regulations is what led to the granting of these recent approvals. Reducing the minimum area land needed to start production in semiconductor or electronics-centered SEZs from 50 hectares to just 10 hectares is a major change. This move allows new-age tech companies to take part more easily in financial markets.

Also Read: India Eases SEZ Norms to Drive Local Semiconductor Manufacturing

Regulatory revisions now allow land to be used without encumbrance, make it easier for SEZ units to sell to the market when they pay applicable duties, and consider free-of-cost products when calculating net foreign exchange (NFE) based on industry and business needs.

By updating regulations for electronics and semiconductors, the government is making it simpler for businesses worldwide and in India to join its manufacturing sector.