The Cochin SEZ is a foreign territory in India. Legally, it stands outside the Customs territory of India. This positioning permits both fast project approvals in the SEZ as well as a hassle-free environment for running units in the SEZ. The Government of India had decided in June, 1983 to set up four Export Processing Zones at Noida, Madras, Cochin & Falta. In pursuance of this decision, 103 acre of land for locating CEPZ was acquired during 1984-85. The project with an estimated cost of Rs.15 crore was approved in February 1985, and construction started in May, 1985. The Zone became operational during the middle of 1986 and the first export took place in November, 1986. The Zone was converted in to an SEZ in the year 2000.