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Special Economic Zones in India

In: Business and Management

Submitted By saruman2005
Words 20206
Pages 81
Introduction to Economic Zones

“Export else perish “ these are the words of first Prime Minister of India Pt. Jawaharlal Nehru. India being a continent like country having 30 states, more than 1000 languages and world second largest man power having diversified natural conditions right from Rain Forests of Kerala, Ice Mountains of Himalaya, Runn of Kuch to productive land of Bramahaputra has great potentials of world class export worthy products from various industries like Agriculture, Engineering, Chemicals, Software’s, Gems and Jewellry, Pharmaceuticals, Bio technology and many more.

During last fifty years, mostly ours exports have been less than our imports and the balance of trade been unfavorable. In 1990-1991 India had faced real pressure on the balance of payment. During this period, exports had stagnated and there was a crisis in foreign reserves which lead to an emergency situation in India.

Liberalization policy was announced in June 1991. It is the precious gift of Dr Manmohan Singh to the people of India at a time when the country was in the grip of unprecedented economic crisis and political turmoil. One of the areas in which this policy focused on was on increasing India’s export. And the trickle down effect of these reforms has lead to the advent of SEZ

In this age of Globalisation, there is a need for every nation in the world to perform well economically. With the improvements in science and technology and the raising standards of living worldwide, ensuring economic development assumes primary importance in the policies of every nation.

While striving for economic development, every nation takes steps necessary for the implementation of its ambitious plans. But more often than not, these plans cannot be affected successfully throughout the nation. There are always shortcomings in these economic plans. Every nation wants to give its...

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