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Special Economic Zones - Project Report Upload

Special Economic Zones - Project Report Upload

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Published by imgauravpansari2855
General Report on SEZs in India
General Report on SEZs in India

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Published by: imgauravpansari2855 on Sep 21, 2012
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The number of Special Economic Zones (SEZs) globally continues to expand. SEZs
account for an increasing share of international trade flows and employ a growing
number of workers world-wide. In the global economy, EPZs are viewed as an
important if a second best policy instrument to promote industrialization, generate
employment, and for regional development. However, costs and benefits of SEZs have
generated an intense debate, touching on almost every possible aspect of SEZs.
Therefore, whether SEZs are beneficial for development remains a subject of
controversy. The present study tries to analyze the financial and social impact that SEZs
have had on the Indian Economy.

India was one of the first 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.
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 2000. This policy intended to make
SEZs an engine for economic growth supported by quality infrastructure complemented
by an attractive fiscal package with the minimum possible regulations.

However, the new SEZ policy has triggered a wide ranging debate in India. In view of
this ongoing debate, this paper is timely and will contribute to a better understanding
of the financial dimensions of SEZs. It is therefore my hope that this study will help
move the debate forward.

Special Economic Zones 6

Gaurav Pansari | St. Xaviers’ College

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