Question

what are SEZ's? why govt. is setting up SEZ's?

Answer 1

Special Economic Zones are defined as specific geographical areas, in which the laws for regulation are different from the laws followed by that country in which the region lies. SEZ are the specific areas which are established to to encourage free manufacturing and export activities.

special economic zones are set up by govt. to attract foreign companies to invest in india.these have world class facilities of electricity, water,etc. those companies that invest in these SEZs do have to pay for an initial period of 5 years.

they have world class facilities: electricity, water, roads, transport, storage, recreational and educational facilities.

Example: IT sectors of Gurgaon, Pune and Bangalore.

Answer 2

❤ SEZ is special economic zone .
Government is setting up SEZ because
❤SEZ have high class facilities like electricity , water .
❤this provide employment opportunities for the workers .
❤This is mainly to attract the foreign companies to invest in India
❤The foreign companies who have invested with SEZ don't want to pay the tax for 5 years.