SAIF Zone deputy director-general Saqr Al Qassemi and CII eastern region deputy chairman Ravi Poddar in Calcutta on Monday. A Telegraph picture

Calcutta, March 21: The Sharjah Airport International Free Zone (SAIF Zone) is keen on more Indian companies setting up operations in the area.

?We have initiated discussions with many major companies in India and are trying to promote the advantages of setting up operations in the area,? said SAIF Zone deputy director-general Saqr Al Qassemi at a seminar organised by the Confederation of Indian Industry (CII).

The zone is trying to attract companies from all sectors, including manufacturing, service and distribution. However, the focus is expected to be more on manufacturing units, especially in the fields of auto spare parts, plastic and related products, medical equipment, engineering products and food processing units.

The SAIF Zone is also keen on inviting services firms to the area. ?The infrastructure that we provide in the zone is ideal for any software services firm. All modern amenities and connections are available and a company just needs to set up its operations and recruit a workforce to commence operations,? said Qassemi.

Launched in 1995, the zone is base to 1,612 businesses from 62 countries at present, of which 243 companies are engaged in manufacturing, 461 involved in services and the remaining 1,039 in trading.

The zone is witnessing an expansion rate of 35 per cent per annum and has recently acquired 2.5 million square metres of land to be divided into plots for the use of investors, both existing and potential.

The trade incentives and benefits provided by the zone to investors include 100 per cent foreign ownership, 100 per cent repatriation of capital and profits, 100 per cent exemption from income and corporate taxes, licence issued within 24 hours, on-site labour accommodation and sponsorship and visas for all staff.

Indian firms constitute 50 per cent of the total number of businesses. Infosys, ICICI Infotech, Godrej, Mahindra and Mahindra, Ashok Leyland and Zee Telefilms are some of them.

?We are also keen on building relationships with the Calcutta business community and expect delegates from the city to visit our zone. We understand that without sharing information, there is not much scope of fostering successful business ties,? said Qassemi.

?The SAIF Zone presents the opportunity to accommodate all types of business and Indian firms should avail of this opportunity to make itself competitive in the international market,? he added.