Q.What is special economic zone?

An SEZ is a duty-free area treated as foreign territory for trade, offering tax and procedural concessions to boost exports and investment.

A Special Economic Zone (SEZ) is a specially demarcated geographical area that is treated, for the purposes of trade, duties and tariffs, as if it were foreign territory. Units set up in an SEZ get benefits such as exemption from customs duties on imports and exports, income-tax and other tax concessions, and simplified procedures. The aim is to promote exports, attract domestic and foreign investment, create employment and develop infrastructure. Goods entering an SEZ from the domestic area are trea …