SEZ IN INDIA: CURRENT TRENDS AND IMPACT ASSESSMENT ON SUNSET CLAUSE

Authors: SHAFALI JAIN, Student of CHRIST (Deemed to be University), Bangalore

Best Citation – JIPSON JOSEPH, RIGHTS OF THE ACCUSED IN A RAPE CASE, Indian Journal of Legal Review (IJLR), 3 (1) of 2023, Pg. 362-369, ISSN – 2583-2344.

Abstract

Many developing nations have embraced special economic zones (SEZs) as a tool for policy to encourage industrialization and economic development. The World Development Report 2020 acknowledges the potential of SEZs as a tool for facilitating participation in the global value chain. SEZs in developing nations have had a generally mixed record as a “high-risk, high-reward” device. Some countries or regions have drastically different results. An SEZ is intended to support market forces by assisting in the resolution of market imperfections as a tool for industrial policy. Even when a zone approach is required and practical, the host government must still choose which kind of zone is best. SEZs frequently entail a “special” legal and regulatory framework, and they may be acceptable if the primary restrictions are connected to legal and regulatory difficulties that, in addition to other constraints, have an impact on the business environment. Following the current trends, the paper entails the implication of government withdrawal on its schemes and sunset clauses as well as impact assessment of the sunset clause.

Keywords: Special Economic Zone, Industrial Development, Industrialization, Development Strategy