| Consider the following statements |
| 1. India is one of the first in Asia to recognise the effectiveness of the Export Processing Zone. |
| 2. Asia's first export Processing Zone was setup in Kandla, India in 1965. Which of the statements given above is/are correct? |
A) Only 1
B) Only 2
C) Both 1 and 2
D) neither 1 nor 2
Correct Answer: C
Solution :
[c] India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965. With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000. The main objectives of the SEZ Act are:| [a] Generation of additional economic activity |
| [b] Promotion of exports of goods and services; |
| [c] Promotion of investment from domestic and foreign sources; |
| [d] Creation of employment opportunities; |
| (e) Development of infrastructure facilities; |
You need to login to perform this action.
You will be redirected in
3 sec
