Role of Special Economic Zone (SEZs) in Creation of Employment, Investment and Export in India
Keywords:
Special Economic Zone (SEZ), Foreign Direct Investment (FDI), Employment creation, Export contribution, Growth rateAbstract
Special economic zones (SEZs) concept has evolved across the globe and several developing countries have adopted this policy for set-up of industrial zones that focus on exports and helps in generating economic opportunity and able to attract Foreign direct investment. So SEZs can be defined as a geographically delimited area which is physically secured, has single window clearance system, less complicated administrative unit and duty free environment. So objective behind this paper is to evaluate the performance of SEZs in India in terms of generation of employment, attraction of Foreign Direct Investment (FDI) and contribution in Indian export. To fulfill the objective data related to employment, investment and export from SEZs are collected from different sources like Ministry of Commerce and Industries, economic survey of India and official website of SEZ. These data are organized in Ms Excel and simple tabular analysis is done. Simple and compound growth rate is calculated to show the change in the performance of SEZs. It is found in the study that SEZs helps in generation of employment, attraction of FDI and contribution in Indian export. At present scenario 1688.34 thousand people is working in SEZs at national level, FDI in SEZs is 433142 crores in 2017 and export output from SEZs in 2016 was 467337 crores which is 19.88% of total export from India.
References
Aggarwal, A. (2016). Special Economic Zones in India: growth engines or missed opportunity? Economics, Politics and Public Policy in East Asia and the Pacific.
Bakshi, I. (2014). Why SEZs in India has failed, Business Standard.
Desai, N (2006). Special Economic Zones - An Indian Perspective. Nishith Desai Associates.
Govt. of India, Ministry of Commerce and Industry (2011): Discussion Paper on Potential Reform of the SEZs Policy and Operating Framework, P. 7.
Khan, N. & Varshney, P.K. (2012). Future Prospects of Special Economic Zones in India in Industrial Sector. International Journal of Marketing, Financial Services & Management Research, Vol.1 Issue 12, ISSN 2277 3622.
Kusago, T. & Tzannatos, Z. (1998). Export processing zones: A review in need of update. World Bank.
Mamata, T. (2011). Impact of Global Financial Crisis on FDI Flows in India – A Special Reference to Housing sector. International Journal of Trade, Economics and Finance, Vol.2, No.12010-023X.
More, A. (2015). Impact of Special Economic Zone in India. International Journal of Commerce, Business and Management (IJCBM), ISSN: 2319–2828 Volume. 4.
Raheem, A. (2011). Impact of Special Economic Zone (SEZ) on Human Development and Poverty Reduction: An Indian Experience. International Journal of Multidisciplinary Research.
Ramananda, M.S. & Pandian, V.A. (2012). Special Economic Zones (SEZs): Tool for Sustainable Growth. International Journal of Research in Finance & Marketing.
Sahoo, P. (2015). Time to review the Special Economic Zones Act. Economic & Political Weekly, Vol. L, No. 14.
Shah, D. (2009). Special Economic Zones in India: A review of Investment, Trade, Employment generation and impact assessment, Indian Journal of Agricultural Economics, Vol.64.
Sharma, N.K. (2009). Special Economic Zones: Socio Economic Implications, Economic & Political Weekly, Vol. 154.
Suneja, K. (2015). Commerce Ministry plans cut in tariffs, MAT on SEZ units, The Economic Times.
Tantri, M. (2011). Special Economic Zones in India: Are these Enclaves Efficient. Institute for Social and Economic Change (ISEC), Working Paper 248.
Zeng, D. (2015). Special Economic Zones: Lessons from the Global Experience. PEDL Synthesis Paper Series.
