SEEPZ-SEZ inaugurates year-long golden jubilee celebrations

The Santacruz Electronic Export Processing Zone-Special Economic Zone (SEEPZ-SEZ) commenced its Golden Jubilee celebrations on Saturday. Set up on May 1, 1973 as a single product EPZ for electronic items as per a notification by the Government of India, its scope was extended to cover gems and jewellery in 1987-88. It was declared one of India’s first Special Economic Zones in 2000 and then a multi-sector SEZ in December 2019. Inhis address, Development Commissioner  Shyam Jagannathan  gave details about the Rs 200-cr redevelopment plan to refurbish and rejuvenate SEEPZ-SEZ;  It includes the establishment of a mega Common Facility Centre (CFC), the first of its kind in the country, which will provide cutting-edge technology as well as hi-tech machinery for manufacturing and other allied processes in gems and jewellery. It’s an Rs 80-crore project, which is targeted for completion by May 1, 2023. The other plans include two new SDF (Standard Design Factory) buildings, where members of the oldest SDF buildings – 1 & 2 - will be shifted.

Aligned to the Prime Minister, Narendra Modi’s vision of Aatmanirbhar Bharat and Make in India initiatives, the redevelopment and rejuvenation of SEEPZ-SEZ has been designed to create more space and attract global investments and generate work. The hub is known to generate direct employment for close to 55,000 individuals and another 40,000 for indirect employment. There are over 180 jewellery units within SEEPZ-SEZ, doing a significant quantum of export business for gems & jewellery and other merchandise. Overseas, the jewellery manufactured here is well-known as SEEPZ jewellery, indicating its high brand recognition and value. SEEPZ-SEZ alone accounts for a quarter of the jewellery imports of the USA, the world’s largest consumer of jewellery. It contributes to 53% of India’s studded jewellery export as well as 31% of total jewellery export from the country.

Interestingly, SEEPZ-SEZ was one of the few institutions to have performed remarkably well during the pandemic year of 2021-2022 – with 309 units it recorded exports over 61% higher than previous year. At present, 37 operational SEZs across the State of Maharashtra, Goa, Dadra & Nagar Haveli and Daman & Diu come under the jurisdiction of the Zonal Development Commissioner, SEEPZ-SEZ.