What is a Chinese SEZ?

special economic zone (SEZ), Chinese (Pinyin) jingji tequ or (Wade-Giles romanization) ching-chi t’e-chü, any of several localities in which foreign and domestic trade and investment are conducted without the authorization of the Chinese central government in Beijing.

Who approves SEZ in India?

The Board of Approval is the apex body and is headed by the Secretary, Department of Commerce. The Approval Committee at the Zone level deals with approval of units in the SEZs and other related issues.

Which is the largest private port in India?

Mundra Port
Mundra Port is the largest private port of India located on the north shores of the Gulf of Kutch near Mundra, Kutch district, Gujarat.

What is the difference between India and China’s economy?

Most central to this article is that the two nations rely on entirely different systems of political economy. India is the world’s largest parliamentary democracy, while China is a one-party dictatorship. India’s reforms have scaled back state-run industries, while China’s reforms have created a pseudo-free-market command economy.

How are SEZs set up in India?

In India, most of the SEZs are set up through a collaboration between the state and central governments. However, any private, public or joint sector agency can also set up SEZs.

What is the difference between an SEZ and an EPZ?

A special economic zone (SEZ) is an area selected by the government for development and has distinct laws that are business-friendly, to manufacturing, service or trading establishments. An export processing zone (EPZ) is similar to an SEZ but is designed to help manufacturing companies to produce goods for export. Was this article useful?

What are Special Economic Zones (SEZs)?

To encourage foreign investment and provide a competitive and hassle-free environment for businesses to flourish, the concept of Special Economic Zones (SEZs) was introduced in India, in April 2000.