Special Economic Zone – Is it User-Friendly?

Abstract

India is rich in human resources. An effective utilization of human resources can boost the development of India. Hence, both Central Government and State Governments have prepare the number of plans for the economic development. Among the many plans, one of the plan is establishment of Special Economic Zone (SEZ). The very purpose of establishing SEZ is providing all infrastructural facilities, marketing assistance, financial assistance and incentives in all aspects. If all the facilities are provided, certainly, many entrepreneurs may come forward to establish their units in SEZ voluntarily, mainly labour intensive units are established in SEZ for the benefit of the local area people. Some of the existing Export Processing Zones are converted into Special Economic Zones. One of such Madras Export Processing Zone (MEPZ) is converted into Special Economic Zone. After such conversion, the researchers want to know the impact of conversion of the functioning of the units within the zone area. Many more multinational corporations are very much interested to establish their sister concerns and branches in India. Hence, it is need of the hour to know the functioning of units in Special Economic Zones. The present study highlights the ways of functioning of units in SEZ erstwhile called MEPZ.