The Special Economic Zones Act (India)

The Special Economic Zones Act of India, enacted in 2005, provides a legal framework for establishing and governing Special Economic Zones (SEZs). These zones are designated areas focused on promoting economic growth, manufacturing, export, and investment by offering businesses benefits such as tax incentives, simplified customs procedures, and relaxed regulations. The aim is to attract both domestic and foreign investors, boost employment, and enhance the country’s global competitiveness. The Act ensures streamlined administration and clear policies for SEZ development, fostering more efficient business environments while maintaining overall regulatory standards.