How many export processing zones are there in India?

The study focuses on the export performance of seven zones in India. These are, namely – Kandla, Santacruz , Falta , Noida, Chennai (Madras) , Cochin and Vizag. The terms SEZ and EPZ are used interchangeably in the text.

What are export processing zones in India?

Export Processing Zones in India was set up by the government of India with the aim to initiate infrastructural development and tax holidays in various industrial sectors in the country. EPZ has incessantly accelerated the economic growth of the country by ensuring a flourishing export production.

Where is export processing zones?

Export processing zones (EPZs) are areas within developing countries that offer incentives and a barrier-free environment to promote economic growth by attracting foreign investment for export-oriented production.

What do you understand by EPZ?

Export Processing Zones (EPZs) can be summarized as a unit bearing clusters of specially designed zones of aggressive economic activity for the promotion of export. The main concept of Export Processing Zones was conceived in the early 1970s to promote the growth of the sickening export business of India.

Which is the Best Export Processing Zone in India?

Indian Customs – Export Processing Zone Scheme. Export Processing Zone Scheme. Free Trade Zones (FTZ)/ Export Processing Zones (EPZs) have emerged as an effective instrument to boost export of manufactured products.

Why do we need free trade zones in India?

Free Trade Zones (FTZ)/ Export Processing Zones (EPZs) have emerged as an effective instrument to boost export of manufactured products. The Zones, set up as enclaves separated from the Domestic Tariff Area (DTA) by physical barriers, are intended to provide an internationally competitive duty free environment for export production at low costs.

Which is a feature of EPZ in India?

EPZ in India are entirely devoid of all kinds of duties, levies, and taxes Implementing tax holidays in the importing of goods like capital goods, raw materials, and consumer goods as well. The units in export processing zones follow the automatic route set by the government of India which offers 100 percent foreign direct investment in the zone

Why are customs zones set up in India?

The Zones, set up as enclaves separated from the Domestic Tariff Area (DTA) by physical barriers, are intended to provide an internationally competitive duty free environment for export production at low costs.