International Trade (Part – II)

The Special Economic Zone (SEZ) policy in India first came into inception on 1 April, 2000. Its prime objective was to enhance foreign investment and provide an internationally competitive and hassle free environment for exports. The idea was to promote exports from the country and realizing the need that level playing field must be available to the domestic enterprises and manufacturers to be competitive globally.

The Special Economic Zone (SEZ) policy in India first came into inception on 1 April, 2000. Its prime objective was to enhance foreign investment and provide an internationally competitive and hassle free environment for exports. The idea was to promote exports from the country and realizing the need that level playing field must be available to the domestic enterprises and manufacturers to be competitive globally.

The Special Economic Zone (SEZ) policy in India first came into inception on 1 April, 2000. Its prime objective was to enhance foreign investment and provide an internationally competitive and hassle free environment for exports. The idea was to promote exports from the country and realizing the need that level playing field must be available to the domestic enterprises and manufacturers to be competitive globally.

India was the first Asian country to introduce the Export Processing Zone (EPZ) model for promoting exports, with Asia's first EPZ set up in Kandla, Gujarat in 1965. The Exim Policy of 2000 set the ball rolling for setting up Special Economic Zones (SEZs) in the country with a view to provide an international competitive and hassle free environment for exports. The Special Economic Zone (SEZ) Act, 2005 further amended the country's SEZ policy. Many EPZs were converted to Special Economic Zones, with notable zones in Kandla and Surat (Gujarat), Santacruz (Mumbai), Cochin (Kerala), Chennai (Tamil Nadu), Falta (West Bengal), Visakhapatnam (Andhra Pradesh), Indore (Madhya Pradesh) and Noida (Uttar Pradesh). At present, there are 276 operational SEZ (Under the SEZ Act, 2005) as on 31 December, 2023 of which Tamil Nadu has largest number of operational SEZ.

India was the first Asian country to introduce the Export Processing Zone (EPZ) model for promoting exports, with Asia's first EPZ set up in Kandla, Gujarat in 1965. The Exim Policy of 2000 set the ball rolling for setting up Special Economic Zones (SEZs) in the country with a view to provide an international competitive and hassle free environment for exports. The Special Economic Zone (SEZ) Act, 2005 further amended the country's SEZ policy. Many EPZs were converted to Special Economic Zones, with notable zones in Kandla and Surat (Gujarat), Santacruz (Mumbai), Cochin (Kerala), Chennai (Tamil Nadu), Falta (West Bengal), Visakhapatnam (Andhra Pradesh), Indore (Madhya Pradesh) and Noida (Uttar Pradesh). At present, there are 276 operational SEZ (Under the SEZ Act, 2005) as on 31 December, 2023 of which Tamil Nadu has largest number of operational SEZ.

India was the first Asian country to introduce the Export Processing Zone (EPZ) model for promoting exports, with Asia's first EPZ set up in Kandla, Gujarat in 1965. The Exim Policy of 2000 set the ball rolling for setting up Special Economic Zones (SEZs) in the country with a view to provide an international competitive and hassle free environment for exports. The Special Economic Zone (SEZ) Act, 2005 further amended the country's SEZ policy. Many EPZs were converted to Special Economic Zones, with notable zones in Kandla and Surat (Gujarat), Santacruz (Mumbai), Cochin (Kerala), Chennai (Tamil Nadu), Falta (West Bengal), Visakhapatnam (Andhra Pradesh), Indore (Madhya Pradesh) and Noida (Uttar Pradesh). At present, there are 276 operational SEZ (Under the SEZ Act, 2005) as on 31 December, 2023 of which Tamil Nadu has largest number of operational SEZ.

As per the question period, among the given options, Thiruvananthapuram (Kerala) did not have a EPZ/SEZ. But at present, all of the given cities have operational SEZs. Two SEZs were notified in 2006 and became operational in Thiruvananthapuram.

Statements 1, 2 and 3 are correct, while Statement 4 is incorrect because Panna in Madhya Pradesh is famous for diamonds mining, not for gold mines.

Surat Special Economic Zone is the first operating EPZ/SEZ in the private sector in India. In 1997, Surat Export Processing Zone came into existence, which have been converted into Special Economic Zone w.e.f. 1 November, 2000. It is the main strategic business unit of Diamond and Gem Development Corporation Limited (DGDC).

Nandigram is a rural area in Purba Medinipur district of West Bengal. In 2007 the West Bengal Government decided to allow Salim Group to set up a chemical hub at Nandigram under the SEZ policy, which was heavily protested by the villagers.