Economy, asked by naidoosasha715, 1 month ago

why the industrial development zones were not successful?​

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Answered by reejakichumoll
1

Answer:

Mumbai: In India, special economic zones (SEZs) were set up to provide a hassle-free environment for exports and to replicate China’s success in using SEZs to boost manufacturing and employment. But the policy has backfired. Far from turning India into a powerhouse of manufacturing exports, the control-free industrial enclaves have become centres of corruption and scams. This begs the question—why has the same policy generated such disparate results for China and India?

As per a new research paper by Meir Alkon of Princeton University, the answer lies in the failure of local Indian politicians to select SEZ sites that offer maximum development potential. Site selection for SEZs has been guided by self-serving agendas rather than considerations of growth and development. Local politicians often influence bureaucrats at state-owned industrial development corporations to secure land for personal gains. As such, sites for SEZs are selected based on real estate speculation rather than the economic potential of a region.

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