Volume : 3, Issue : 1, JAN 2017

SPECIAL ECONOMIC ZONES IN INDIA: A TOOL FOR ECONOMIC DEVELOPMENT

DR. SANJAY K. SOLOMON

Abstract

A Special Economic Zone (SEZ) is a geographically defined area where economic rules governing export and import are more flexible and open than in other regions of the country. For the purposes of trade, operations, duty, and tariffs, SEZs are envisioned as duty-free zones. Self-contained and integrated SEZ units have their own infrastructure and support services. Units for the manufacturing of commodities and other operations such as processing, assembling, trading, repairing, and reconditioning may be established within SEZs., Making gold/silver, platinum jewellery, and so forth. In the rapidly changing global market, the recent rush to establish SEZs could fuel economic growth and provide a cost advantage to industry. SEZs, as opportunity islands, provide opportunities in a variety of industries. The attractiveness of these SEZs would be determined by low-cost imports and high-volume products with a domestic and international market. Fiscal incentives, regulatory freedom, and world-class infrastructure are the three pillars of the SEZ Act, as they are everywhere else. The Central Government of India established the SEZ policy in 2000. The SEZ Act of 2005 was passed in February 2006 with the goal of making Special Economic Zones an engine of economic growth, supported by quality infrastructure and an appealing fiscal package at both the Central and State levels with a single window clearance. SEZs are governed and managed by the government in order to promote international trade and thus improve the nation's economy. SEZs provide necessary infrastructure and other such accommodations to assist and promote companies within the SEZ to engage in international trade. The government must take a more proactive role in order to effectively rationalize the full range of benefits from SEZs.

Article : Download PDF

Cite This Article

Article No : 16

Number of Downloads : 474

References

[1] Aggarwal, Aradhna, working paper on export processing zones in india: Analysis of the export performance, NOV2004,ICRIER.

[2] Chaturvedi, Tarun, Guide to Special Economic Zones, 2nd Ed. Delhi: Commercial Law Publishers(I) Pvt. Ltd., 2007

[3] Govilkar, V. M., Special Economic Zones: Boon or bane, 1 st Ed., Pune: Centre for Holistic Studies, 2007.

[4] GoI. (2015). “Government of India, Ministry of Commerce”, Annual Reports. Delhi: Govt. of India.

[5] India.gov.in. (2015). http://india.gov.in. Retrieved from http://india.gov.in/ allimpfrms/allacts/3111.pdf .

[6] Jadhav, Prakash, and Manjaramkar, M. A., Special Economic Zones: Present Problems and Future Prospects of Farmers in Nanded Sub-Division Shodh Samiksha Mulyankan (International Research Journal), Vol.II, Issue 9-10, Oct-Nov. 2009.

[7] Kale, Sampat, The Anti-SEZ movement in India: An Account of the Struggle in Maharashtra, Pune: National Centre for Advocacy Studies, February 2010, http://www. indiaenvironmentportal.org.in/files/sez_sam.pdf

[8] Khurud, B. S. , and Abhang, S. B., SEZ in India: Performance and prospects, Southern Economist, Vol. 51, No. 5, July 2012, PP-5-8.

[9] Kumari, R., Mittal, V. & Jain, H. (2015). Special Economic Zones in India: Problems and Prospects, IJRESS, pp. 37-43

[10] Lakshmanan, L., Evolution of Special Economic Zones and some Issues: The Indian Experience, September 2009, http://www.rbi.org.in/ scripts/

[11] Nawal, Ashok B., Special Economic Zone – Past, Present & Future, Jan. 2011.

[12] Paralikar, Vinayak, and Shetty, Vijetha, A analytical study of 3ps- purpose, prospects and performance of Special Economic Zones (SEZs) with reference to India, ZENITH International Journal of Business Economics & Management Research Vol.2 Issue 2, February 2012.

[13] R.SHASHI KUMAR: SEZs IN INDIA: CONCEPT, OBJECTIVES AND STRATEGIES, Paper presented in the National Seminar on SPECIAL ECONOMIC ZONES. Organized by Sri Adichunchanagiri College of Arts, Commerce and Science, Nagamangala, Karnataka,

[14] Ranjan R.K. (2006): Special Economic Zones: Are They Good for the Country? Centre for Civil Society

[15] Report of the Comptroller and Auditor General of India? for the year 2012-13, “Performance of Special Economic Zone.

[16] Santosh Balasaheb Khalate ,Dr. Vandana V. Pimple: A study of performance of special economic zones (sezs) in india, Chronicle of the Neville Wadia Institute of Management Studies & Research..

[17] Satish Manikrao Dhoke : A Study of Significance and Development of Special Economic Zones in Aurangabad Industrial Area, Excel Journal of Engineering Technology and Management Science (An International Multidisciplinary Journal) Vol. I No.7 Dec - Jan 2014-15.

[18] SEZ-India. (2015). http://www.sezindia.nic.in. Retrieved from http://www.sezindia.nic.in/index.asp