Special economic zone
Geographical region in which business and trade laws are different from the rest of the country
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A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
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Andhra Pradesh: At least 15 injured in reactor explosion at pharma company in Anakapalle, video surfacesThe explosion happened at the Special Economic Zone plant of the pharmaceutical company Escientia Company. For medical attention, the injured have been moved to the NTR Hospital.DNA - Published |
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