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Question
What is SEZ? Explain.
Answer in Brief
Solution
In recent years, Central and State Governments in India are taking special steps to attract foreign companies to invest in India. So Special Industrial Zones are being set up. They are also called Special Economic Zones. They have world-class facilities like electricity, water, transport, recreational and educational facilities. Companies that set up production units in SEZs do not have to pay taxes for an initial period of five years.
Recently, the Government of India has set up Special Economic Zones in the Southern States especially in Tamil Nadu, Karnataka, Andhra, and Kerala with a view to boosting exports. Nanguneris SEZ, Ennore SEZ, Coimbatore SEZ are some of the SEZ’s in Tamil Nadu
shaalaa.com
Globalization in India
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