Best Commerce classes for 11th | 12th | CA/CS Foundation | BCom | BBA Behere Classes Basics of Economics Series Part 12: Special Economic Zone A special economic zone (SEZ) is an area in a country that is subjected to the unique economic regulations that differ from other regions of the same country. The SEZ regulations tend to be more conducive for foreign direct investment (FDI). Conducting business in an SEZ typically means that the company will receive some tax incentives and the opportunity to pay lower tariffs. India was one of the first countries in Asia to recognize the importance and effectiveness of the Export Processing Zone (EPZ) model in promoting exports. Asia's first EPZ was set up in Kandla in 1965. With a view to overcoming the shortcomings experienced due to the multiplicity of controls and clearances; the absence of world-class infrastructure and an unstable fiscal regime along with a view to attracting larger foreign investments in India, Special Economic Zones (SEZs) Policy was announced by the government in April 2000. This policy envisioned to make SEZs an engine for economic growth supported by quality infrastructure and complemented by an attractive fiscal package, both at the Union and the State level, with the minimum regulations. The main objectives of the SEZ Act are: ➤ Generation of additional economic activity ➤ Promotion of exports of goods and services ➤ Promotion of investment from domestic and foreign sources ➤ Creation of employment opportunities ➤ Development of infrastructure facilities The SEZ Rules provide for: " Simplified procedures for development, operation, and maintenance of the SEZ and for setting up units and conducting business in SEZs; Single window clearance a. for setting up of an SEZ; b. for setting up a unit in a SEZ; c. on matters relating to the Union as well as State Governments; And, Simplified compliance procedures and documentation with an emphasis on self-certification Tags: Best 11th commerce classes in Pune, 11th commerce class in Pune, top commerce coaching in pune, Commerce classes in Pune city, 12th commerce classes in Pune, 12th commerce class in Pune, commerce classes near me, best commerce classes near me, 11th 12th commerce classes near me, BBA coaching classes in Pune, BBA classes near me, BCom classes in Pune, BCom classes near me, BBA tuitions near me, BCom tuitions near me, commerce tuitions near me, classes for 11th commerce, CA classes in Pune, Pune 11th commerce classes, tuitions for 11th commerce, CA foundation classes, CS foundation classes, best CA foundation classes, best CS foundation classes