Universal Journal of Industrial and Business Management(CEASE PUBLICATION) Vol. 4(2), pp. 44 - 52
DOI: 10.13189/ujibm.2016.040202
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An Evaluation of Special Economic Zones (SEZs) Performance Post SEZs Act 2005

Abdul Rahoof TK ^*, P. G. Arul
Department of International Business, Pondicherry University, India

ABSTRACT

Special Economic Zones (SEZs) has been the growth engine of many developing countries around the world for the last few decades. The SEZ Scheme was introduced to provide a special area to expertise in international trade by providing an attractive fiscal package both in central and state government level with little regulations. SEZs have made Indian economy compatible with the global economy. The SEZ Act 2005 was passed with a view to increase the pace of economic growth. So far the Government of India (GOI) has given formal approval to 491 SEZs in which 199 SEZs already started exporting, out of which majority are from IT/ITES, pharmaceuticals and chemical sectors. GOI came forward with a lot of incentives for attracting investors to the scheme. The newly elected NDA government is seriously looking for the development of SEZs. The performance of Indian SEZs in the post-SEZ Act era has been gaining attention; it shows a tremendous increase in export, investment and employment. This paper is an attempt to study the performance of SEZ in India and its impact on India's export, investment and employment. In addition to this, the recent government initiatives in terms of privileges, tax exemptions, rebates, policy initiatives to improve the performance of SEZ are also addressed in this paper. For the extensive analysis of this study, data were collected from the Ministry of Commerce and Industry, Ministry of Finance, Reserve Bank of India and from various websites and newspapers.

KEYWORDS
Special Economic Zones (SEZs), Export Processing Zones (EPZs), SEZ Act 2005, Export, Investment, Employment and Tax Incentives

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Abdul Rahoof TK , P. G. Arul , "An Evaluation of Special Economic Zones (SEZs) Performance Post SEZs Act 2005," Universal Journal of Industrial and Business Management(CEASE PUBLICATION), Vol. 4, No. 2, pp. 44 - 52, 2016. DOI: 10.13189/ujibm.2016.040202.

(b). APA Format:
Abdul Rahoof TK , P. G. Arul (2016). An Evaluation of Special Economic Zones (SEZs) Performance Post SEZs Act 2005. Universal Journal of Industrial and Business Management(CEASE PUBLICATION), 4(2), 44 - 52. DOI: 10.13189/ujibm.2016.040202.