What is an SEZ?
The special economic zone or SEZ area covers a total business established especially for foreign trade promotion. A special economic zone (SEZ) is a geographical region that has economic laws more liberal than a country ‘s typical economic laws The goal is usually bloom in foreign investment.

[1] Ie SEZS specifically delineated enclaves treated as foreign territory for the purpose of industrial, maintenance and operations negotiates with the relaxation in taxes and a more liberal regime with respect to other levies, foreign investment and other transactions.

[2] These regions exist in many countries of China and the world perhaps the oldest to give reality to the concept. Although there are several countries, their qualities vary. Regions are typically identified for economic development-oriented FDI and export of special incentives promoted by the policy.

[3] SEZS in India is the result of the current government’s industrial policy that emphasizes deregulation of the industry india industry and enable the authorities to respond flexibly to the market. All companies except those industries engaged in the small scale manufacture of items reserved for manufacture in the small scale sector are required to obtain an industrial license and undertake an obligation to export 50% of annual production. This condition of approval, however, is not applicable to those companies operating under the business-oriented project exportaci3on 100%, the export processing zone (EPZ) schemes or special economic zone (SEZS).

Basic difference between EPZs and SEZS
The SEZS is the new nomenclature of modified zones prior to export promotion or EPZs. The first EPZ was established in India in Kandal 1965. They were created as privileged areas with the facilities of liberal tax and labor laws. Were to attract foreign investors to import materials for use and export the manufactured materials. In this way the work would be created and enhanced the export succeeded. [5] The main difference between an EPZ and SEZ is that the above is just an industrial site but the latter is an integrated township with fully developed infrastructure.

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