On account of the Pandemic outburst of COVID-19, the India Central Government declared a complete lockdown from 25th March, 2020 onwards in various phases.
In subsequent lockdown, the Ministry of Home Affairs vide Guidelines dated 15th April, 2020, issued relaxations for Special Economic Zones ("SEZs") wherein the Government from 20th April, 2020 allowed operations of Manufacturing and other Industrial Establishments with access control in SEZs.
Despite such relaxations, SEZs and the export-hubs have had suffered an impact of COVID – 19 on their numbers and which may be reflected in their business cycles during next 2-3 quarters.
The concerned Ministry answering several queries regarding the impact of COVID – 19 issued a press release wherein the decreased supply on raw materials from China to India was predicted leading to impact on pharmaceutical, electronic, automobile industry, etc. amongst the other effects. The relaxations extended to SEZs may work as a stitch in time.