BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Export Point Zone
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External Processing Zone
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Export Production Zone
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Export Processing Zone
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Detailed explanation-1: -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.
Detailed explanation-2: -Detailed Solution India was the first country to set up Asia’s first Export Processing Zone (EPZ) in Kandla in 1965.
Detailed explanation-3: -In 1965, Asia’s first export processing zone (EPZ) was set up in Kandla, Gujarat.
Detailed explanation-4: -What is EPZ? Export Processing Zone, or EPZ, is a specific type of economic zone designated by the government to promote export-oriented businesses. These zones offer a number of incentives to companies that set up operations within them, including tax breaks and exemption from certain labour laws.