Abstract: In our country EPZ/SEZs were started to boost the economic growth of the country by increasing exports and foreign direct investment in the country. First EPZ in the country was established in 1965 in kandla (Gujarat) and India was the first country in Asia where EPZ was started. In the country new economic policy begun in 1991 and major policy shift from EPZ to SEZ was came in 1997-2002 EXIM policy statement. SEZ bill was passed in 2005 by parliament and ministry of commerce notified SEZ law on 9 Feb 2006. Eight EPZs which were operational have been converted in SEZs. After the enactment of new SEZ policy, governments have given great chunk of approvals. Most of the approved SEZ are from IT/ITES/Engineering sector and only few developed states got majority of approvals. Andhra Pradesh is frontrunner in approval of SEZs. SEZ leads to change in socio, economic and environmental conditions in the society. Huge land has been acquired for the establishment of the SEZs, which affect the employment level and food security in the country. SEZs are not need to follow environmental regulations. In the construction stage and later in production process SEZs use huge amount of water resource. Labour laws are also not applicable in these enclaves.
Keywords: EPZs, SEZs, EGOM.
Title: Impact of Special Economic Zones on Indian Economy
Author: Anita, Niraj
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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