China's Hainan Free Trade Port implemented island-wide customs closure, creating a zero-tariff hub. Offering 15% corporate taxes and a 30% value-added processing exemption, it aims to reshape global supply chains while rivaling Hong Kong.
Click to View MoreThe government is revising SEZ norms to help exporters access the domestic market amid steep US tariffs. Proposed measures include allowing reverse job work, improving utilization of SEZ units, extending export obligations, and easing financial stress. Sectors like gems and jewellery, heavily reliant on SEZs, are most affected. Challenges include low R&D investment, limited skill development, negative trade balances, and low FDI. Reforms aim to boost manufacturing efficiency, safeguard jobs, and enhance global competitiveness.
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