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Final Project Report on Economic Zones

Final Project Report on Economic Zones

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Published by Marketing Expert
HTTP://PAKISTANMBA.JIMDO.COM
FOR DOWNLOADING THIS REPORT AND FOR MORE PROJECTS, ASSIGNMENTS, REPORTS ON
MARKETING,
MANAGEMENT,
ECONOMICS
MARKETING MANAGEMENT,
ACCOUNTING,
HUMAN RESOURCE,
ORGANIZATIONAL BEHAVIOR,
FINANCIAL MANAGEMENT
COST ACCOUNTING
VISIT
HTTP://PAKISTANMBA.JIMDO.COM
HTTP://PAKISTANMBA.JIMDO.COM
FOR DOWNLOADING THIS REPORT AND FOR MORE PROJECTS, ASSIGNMENTS, REPORTS ON
MARKETING,
MANAGEMENT,
ECONOMICS
MARKETING MANAGEMENT,
ACCOUNTING,
HUMAN RESOURCE,
ORGANIZATIONAL BEHAVIOR,
FINANCIAL MANAGEMENT
COST ACCOUNTING
VISIT
HTTP://PAKISTANMBA.JIMDO.COM

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Published by: Marketing Expert on May 19, 2009
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09/29/2010

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Introduction to Economic Zones
“Export else perish “ these are the words of first Prime Minister of India Pt. Jawaharlal Nehru.India being a continent like country having 30 states, more than 1000 languages and worldsecond largest man power having diversified natural conditions right from Rain Forests of Kerala, Ice Mountains of Himalaya, Runn of Kuch to productive land of Bramahaputra has great potentials of world class export worthy products from various industries like Agriculture,Engineering, Chemicals, Software’s, Gems and Jewellry, Pharmaceuticals, Bio technology andmany more.During last fifty years, mostly ours exports have been less than our imports and the balance of trade been unfavorable. In 1990-1991 India had faced real pressure on the balance of payment.During this period, exports had stagnated and there was a crisis in foreign reserves which lead toan emergency situation in India.Liberalization policy was announced in June 1991. It is the precious gift of Dr Manmohan Singhto the people of India at a time when the country was in the grip of unprecedented economiccrisis and political turmoil. One of the areas in which this policy focused on was on increasingIndia’s export. And the trickle down effect of these reforms has lead to the advent of SEZIn this age of Globalisation, there is a need for every nation in the world to perform welleconomically. With the improvements in science and technology and the raising standards of living worldwide, ensuring economic development assumes primary importance in the policiesof every nation.While striving for economic development, every nation takes steps necessary for theimplementation of its ambitious plans. But more often than not, these plans cannot be affectedsuccessfully throughout the nation. There are always shortcomings in these economic plans.Every nation wants to give its industries ample facilities for efficient production of goods andservices and in order to make them globally competitive in terms of price and quality. Some of these facilities can be used by all industries throughout the nation. But sometimes, some facilitiescannot be given on account of reasons like the geographical extent and the possibility of misuse.
 
 HTTP://PAKISTANMBA.JIMDO.COM  FOR DOWNLOADING THIS REPORT AND FOR MORE  PROJECTS, ASSIGNMENTS, REPORTS ON MARKETING,MANAGEMENT, ECONOMICS MARKETING MANAGEMENT, ACCOUNTING, HUMAN RESOURCE,ORGANIZATIONAL BEHAVIOR, FINANCIAL MANAGEMENT COST ACCOUNTINGVISIT  HTTP://PAKISTANMBA.JIMDO.COM 
For Example
:
If a country wants to give subsidized power to a specific industry, it cannot do sothroughout the nation as keeping a check on whether the subsidized power is going to the right people or not is a Herculean task.Thus, in order to give the industry certain added advantages, the governments of various nationscome up with special schemes and subsidies mostly related to customs duties. These schemes provide an upward thrust to the nation’s products in the global markets on account of lower  prices / better quality. Such schemes, if implemented directly, are not allowed by the WTO. Thishas resulted in many nations coming up with such schemes in an indirect manner. One of the
 
most popular ones is to set up a special area demarked for the purpose of industrial growth.Various facilities can be offered in this area without the fear of them being misused and also, noresistance from WTO (or any other trading partner / nation) is encountered on account of thescheme not being a national policy, but only limited to a small area demarked for the purpose.This is where the concept of ‘Economic Zones’ comes in.
Types of Economic Zones
Depending on the facilities provided, the level of government control exercised, the type of industries allowed in the zone, and the type of activities allowed in the zone, they are classifiedinto many types by different countries. A few common types are as follows:
Foreign Trade Zone (FTZ) – These are designated sites where special customs proceduresare applicable. These procedures allow domestic activities involving foreign trade to take place as if it were outside the nation’s borders, thus relieving them of the Customs of theland.
For Example:
 Miami Foreign Trade Zone, Florida (USA)

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