Ministry : Ministry of Commerce and Industry (Department of Commerce)
Part II-Section 3-Sub-Section (i)
Subject : Extra Ordinary
Overview [Extraordinary Gazette: Special Economic Zones (Fifth Amendment) Rules, 2024]
The Gazette publishes the Special Economic Zones (Fifth Amendment) Rules, 2024, issued by India's Ministry of Commerce and Industry under the Special Economic Zones Act, 2005, extending key regulatory deadlines.
Key Points
- Extends the deadline for compliance under Rule 43A from 31 December 2024 to 31 December 2027.
- Amends the Special Economic Zones Rules, 2006, to provide a three-year grace period for entities to meet specific regulatory requirements.
- Issued under G.S.R. 786(E) and published on 26 December 2024, with effect from the date of publication.
- Serves as a regulatory adjustment to support continued investment and operational flexibility in Special Economic Zones.
Summary
The Special Economic Zones (Fifth Amendment) Rules, 2024, published on 26 December 2024, extends the compliance deadline under Rule 43A from 31 December 2024 to 31 December 2027, offering a three-year extension for economic zone regulatory requirements. This amendment aims to provide greater flexibility and support for businesses operating within India’s Special Economic Zones, reinforcing the government’s commitment to fostering investment and development in these zones.
