Areas which are engines for economic growth supported by quality infrastructure and , complemented by an attractive fiscal package are known as

Special Economic Zones (SEZs) are specifically delineated duty-free enclaves treated as foreign territories for trade operations [1]. They are designed as engines for economic growth by focusing on the generation of additional economic activity, promotion of exports, and creation of employment [1]. A defining feature of SEZs is the provision of world-class or quality infrastructure combined with an attractive fiscal package, including special tax incentives and duty-free movement of goods [4]. While Export Processing Zones (EPZs) were the predecessors, the modern SEZ framework established under the SEZ Act of 2005 provides a more comprehensive liberal facility for domestic and foreign investors to enhance investment and infrastructure development [3]. These zones offer a business-friendly environment with a sound legal framework and streamlined operations to sustain long-term industrial growth [4].

Sources

1. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 14: Infrastructure and Investment Models > 14.7 Special Economic Zones (SEZ) > p. 417
2. [4] Geography of India ,Majid Husain, (McGrawHill 9th ed.) > Chapter 11: Industries > Industrial Complexes in India > p. 114
3. [3] Geography of India ,Majid Husain, (McGrawHill 9th ed.) > Chapter 11: Industries > Special Economic Zones of India > p. 85