What is Special Economic Zone? #upsc #ias

Special Economic Zone (SEZ)

Special Economic Zone (SEZ) is a special geographical region which has completely different laws when compared to other regions. SEZ’s enjoys tax breaks, simplified procedures, less regulations and restrictions, exemption from customs and duties, all of which is done to

  • Generate additional Economic activity
  • Promote exports of goods and services
  • Promote Investment from domestic and foreign sources
  • Create employment opportunities
  • Develop Infrastructure facilities