GENERAL KNOWLEDGE

Detailed explanation-1: -A special economic zone (SEZ) is an area in a country that is subject to different economic regulations than other regions within the same country. The SEZ economic regulations tend to be conducive to-and attract-foreign direct investment (FDI).

Detailed explanation-2: -(i) Special Economic Zones (SEZs) are to have world class facilities, electricity, water, roads, transport etc. (ii) Government provides recreational and educational facilities. (iii) Companies who set up production units in the SEZs do not have to pay taxes for an initial period.

Detailed explanation-3: -One major government initiative to attract foreign companies to invest in India is to build special economic zones. A special economic zone (SEZ) is an area in which business and trade laws are different from the rest of the country.

Detailed explanation-4: -A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country’s national borders. Their aims include increased trade balance, employment, increased investment, job creation and effective administration.