History of EPZs in India
Overall Rating:  [5/5]Total Votes [ 4 ] |
|
History of EPZs in India shows the evolution of the special economic zones in India. The government of India has taken various efforts in order to promote the setting up of more and more EPZs in the country. Export Processing Zones are specialized areas in a country where tariffs are eliminated in the hope of attracting FDI and new business.
The main objectives behind the setting up of Export Processing Zones in India are to encourage export and foreign exchange earnings. The History of Export Processing Zones in India goes back to the 1960s and can be divided into four phases. The initial phase of the EPZs in India, which lasted from 1964 to 1985, witnessed the setting up of the first zone in Kandla in 1965. This was followed by the establishment of the EPZ in Santacruz, which started its operations in 1973.
In India, the History of EPZs shows that during the initial phase the policies were rigid and the facilities and incentives were not so attractive. The government of India set up three committees to review the working of the Export Processing Zones that had been already set up. These committees recommended the setting up of more EPZs in India and also gave recommendations that would help to improve the performance of the zones. The next phase in History of EPZs in India was the expansionary phase, which lasted from 1985 to 1991. This phase saw the setting up of five Export Processing Zones in India.
The third phase is the consolidating phase in the History of EPZs in India. This phase lasted from 1991 to 2000 and witnessed the formulation of new measures and polices by the Indian government for revamping of EPZs in the country. In India, the History of Export Processing Zones shows that there were relaxation of the strict controls, liberalization of the provisions, and also simplification of the procedures in this phase. Further the History of EPZs in India shows that during this phase various kinds of units such as agriculture, trading, horticulture, re-engineering, trading, and aqua culture units were granted permission to set up their business in the EPZs in India.
The fourth phase is the emergence phase in the History of EPZs in India and it started from 2000 onwards. This phase saw the formulation of the EXIM Policy that introduced a new scheme for setting up of Special Economic Zones in the various parts of India. This policy adopted several measures in order to encourage the setting up of more SEZs in the country. The EXIM Policy introduced a scheme through which all the Export Processing Zones have been converted to Special Economic Zones in the country.
The various Export Processing Zones in India are:
In India, the History of EPZs shows that during the initial phase the policies were rigid and the facilities and incentives were not so attractive. The government of India set up three committees to review the working of the Export Processing Zones that had been already set up. These committees recommended the setting up of more EPZs in India and also gave recommendations that would help to improve the performance of the zones. The next phase in History of EPZs in India was the expansionary phase, which lasted from 1985 to 1991. This phase saw the setting up of five Export Processing Zones in India.
The third phase is the consolidating phase in the History of EPZs in India. This phase lasted from 1991 to 2000 and witnessed the formulation of new measures and polices by the Indian government for revamping of EPZs in the country. In India, the History of Export Processing Zones shows that there were relaxation of the strict controls, liberalization of the provisions, and also simplification of the procedures in this phase. Further the History of EPZs in India shows that during this phase various kinds of units such as agriculture, trading, horticulture, re-engineering, trading, and aqua culture units were granted permission to set up their business in the EPZs in India.
The fourth phase is the emergence phase in the History of EPZs in India and it started from 2000 onwards. This phase saw the formulation of the EXIM Policy that introduced a new scheme for setting up of Special Economic Zones in the various parts of India. This policy adopted several measures in order to encourage the setting up of more SEZs in the country. The EXIM Policy introduced a scheme through which all the Export Processing Zones have been converted to Special Economic Zones in the country.
The various Export Processing Zones in India are:
- Madras Export Processing Zone (MEPZ), Madras, Tamil Nadu
- Cochin Export Processing Zone (CEPZ), Cochin, Kerala
- Santa Cruz Electronic Export Processing Zone (SEEPZ), S. Cruz, Maharashtra
- Noida Export Processing Zone (NEPZ), Noida, Uttar Pradesh
- Visakhapatnam Export Processing Zone (VEPZ), Visakhapatnam, Andhra Pradesh
- Kandla Free Trade Zone (KAFTZ), Kandla, Gujarat
- Falta Export Processing Zone (FEPZ), Falta,West Bengal
Meaning of Export Processing Zones
