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Learn about the history, objectives, and framework of SEZs in India, which are export-oriented zones with simplified procedures and incentives. Find out how SEZs are approved, operated, and monitored by the Board of Approval and the Approval Committee.
With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000.
- Special Economic Zone – Definition
- Sez Approval Mechanism
- List of Operational Special Economic Zones
An SEZ is an enclave within a country that is typically duty-free and has different business and commercial laws chiefly to encourage investment and create employment. 1. Apart from generating employment opportunities and promoting investment, SEZs are created also to better administer these areas, thereby increasing the ease of doing business. Rea...
The SEZ approval mechanism is a single-window process provided by a 19-member inter-ministerial SEZ Board of Approval (BoA). 1. The developer has to submit the proposal to the state government. 2. The state government forwards this proposal to the BoA along with its recommendation within forty-five days. 3. The developer or applicant can also direc...
Download PDF A few important figures related to SEZs in India: 1. As of 31st December 2020; 22.84 lakh persons have been employed in the SEZs, the division of which is given below: 1.1. Number of persons employed in the Central Government SEZs – 186768 1.2. Number of persons employed in the state/private SEZs set up before 2006 – 98309 1.3. Number ...
May 31, 2024 · Learn what a special economic zone (SEZ) is, how it works, and why countries use it to attract foreign direct investment (FDI). Find out the history, types, and benefits of SEZs, with China as a successful case study.
- Adam Barone
Special Economic Zone of India Government of India Ministry of Commerce & Industry Department of Commerce Vanijya Bhawan, New Delhi - 110001 Email ID:- moc_epz[at]nic[dot]in
A special economic zone ( SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the ...
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A special economic zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's domestic economic laws. India has specific laws for its SEZs. India was one of the first countries in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965.
