SEMINAR AND GROUP DISCUSSION
ANALYSIS OF SPECIAL ECONOMIC ZONES IN INDIA
SPECIAL ECONOMIC ZONES is a geographical region that has economic and other laws that are more free-market oriented than a country's typical or national laws. "Nationwide" laws may be suspended inside a special economic zone.
The category 'SEZ' covers the following:
* free trade zones (FTZ),
* export processing Zones (EPZ)
* free Zones (FZ)
* industrial parks or industrial estates (IE)
* free ports
* free economic zones
* urban enterprise zones
Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC), development of infrastructure and to increase the employment.
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. In order 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.
The world first known instance of SEZ have been found in an industrial park set up in Puerto Rico in 1947. In the 1960s, Ireland and Taiwan followed suit, but in the 1980s China made the SEZs gain global currency with its largest SEZ being the metropolis of Shenzhen.From 1965 onwards, India experimented with the concept of such units in the form of Export Processing Zones (EPZ). But a revolution came in 2000, when Murlisone Maran, then Commerce Minister, made a tour to the southern provinces of China. After returning from the visit, he incorporated the SEZs into the Exim Policy of... [continues]
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