Sez Policy India

Slow death of Indian SEZ form _or_ system of government Indian SEZ (special economic zone) increment momentum started way back in 1965, when Indian  authorities approved the project of development of EPZ (economic processing zone- kandla free conduct zone). India was the first country in Asia to bear on such moves. after more such projects established in Maharashtra, West Bengal, Uttar Pradesh, Kerala, & angstrom unit; Andhra Pradesh to promote exports. In early 1990s 1st SEZ insurance policy of India came in actuality as an economic reform measure. It didnt yield craved results due to downfall in manufacturing sector in flake half of decade, loopholes in legal framework of Indian economy, execrable infrastructure, stringent labor laws, lengthy approval procedure & vitamin A; immature Indian market to promote FIIs. Thus, there was no amiable environment for investments in India even after adopting imperfect economic policy by the GoI. In order to carry through liberal economic policy & to shoulder with ever-changing global economic scenario Indian government announced Indian SEZ policy in April 2000 & the SEZ act passed by sevens in the division 2005. Launched with India shining hype in year 2006 for providing simplification of procedure as well as to promote small & medium scale business units the policy is getting off track by and by.

 Now the belatedly introduced NMP (national manufacturing policy) under which the new concept of NIMZs (national investment & manufacturing zones) seems uniform an attempt of re-branding loopholes of SEZs although former focuses on domestic manufacturing & later on exports. So far 30583 SEZs have been approved bulge out of which 583 ar formally approved, only 381 of them notified & only 148 zones are operational with 3308 units. Even after having features like exemption from write duty, VAT, 10 year income tax holiday (100% for 1st 5 yrs & 50 % for next 5 yrs), MAT, central sales & service tax, state taxes & single window approval for project development the SEZ... If you want to get a full essay, order it on our website: Orderessay

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