Question
Download Solution PDFWhich state has the highest number of operational SEZs?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Tamil Nadu.
- Special Economic Zones (SEZs):
- An SEZ is an enclave within a country that is typically duty-free and has different business and commercial laws chiefly to encourage investment and create employment.
- Tamil Nadu has the highest number of operational SEZs (40), followed by Karnataka (31) and Maharashtra (30).
- In this zone, industries get some tax advantages.
- The Parliament passed the Special Economic Zones Act in 2005 after many consultations and deliberations and it came into force in 2006.
- SEZs were operational in India from 2000 to 2006 (under the Foreign Trade Policy).
- Special Economic Zones Act, 2005
- It is defined as an Act to provide for the establishment, development, and management of the Special Economic Zones for the promotion of exports and for matters connected therewith or incidental thereto.
- Objectives of the SEZs Act are:
- To create further economic activity.
- To encourage the export of goods and services.
- To provide employment.
- To boost domestic and foreign investments.
- To develop infrastructure facilities.
Last updated on May 8, 2025
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