Explain any five facilities available in the special economic zones developed by the Central and State Governments to attract foreign investment.
Answer:
Points to Remember
In order to attract foreign companies to invest in India , Government set up industrial Zones knowns as Special Economic Zones (SEZs)
- Special Economic Zones (SEZs) provide world-class facilities
- The government offers recreational and educational opportunities.
- Companies that establish production units in SEZs are exempt from paying taxes
- labor regulations more flexible .
- Companies hire workers flexibly for brief periods of time .
Answer to be written in exam
In order to attract foreign companies to invest in India , Government set up industrial Zones knowns as Special Economic Zones (SEZs)
- Special Economic Zones (SEZs) provide world-class facilities such as electricity, water, roads, and transportation to foreign companies.
- The government offers recreational and educational opportunities .
- Companies that set up their production units in the SEZs do not have to pay taxes f or an initial period of five years
- The government has made labor regulations more flexible in order to attract international investment.
- Rather than hiring workers on a regular basis, MNCs hire workers flexibly for brief periods of time when there is heavy work pressure.
