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.
A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re-exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade.
The economy of South India after independence in 1947 conformed to a socialist framework, with strict governmental control over private sector participation, foreign trade and foreign direct investment (FDI). Through 1960–1990, South Indian economies experienced mixed economic growth. In the 1960s, Kerala achieved above-average economic growth, while Andhra Pradesh's economy declined during this period. Similarly, Kerala experienced an economic decline in the 1970s while the economies of Tamil Nadu, Andhra Pradesh, and Karnataka consistently exceeded national average growth rates after 1970. South India first started to overtake the rest of India economically in the 1980s. Andhra Pradesh, Tamil Nadu and Karnataka were noted by some to be more reform-oriented in terms of economic policy when compared to other Indian states. Over the last decade South India has grown at 8% annually. Future economic growth will be shackled by a relatively low proportion of the active age population to the number of dependents. Today, South India has about 20% of India's population, and contributes about 31% of India's GDP; it is projected to contribute 35% by 2030.
Infopark, Kochi is an information technology park situated in the city of Kochi, Kerala, India. Established in 2004 by the Government of Kerala, the park is spread over 260 acres (105.2 ha) of campus across two phases, housing 546 companies which employs about 63,600 professionals as of 2022.
The economy of Kochi was worth 49453.29 crores in 2012 - 2013 financial year with a growth of almost 7.5% per annum.
Nanguneri is a panchayat town in Tirunelveli district in the Indian state of Tamil Nadu.
Tamil Nadu has the second largest state economy in India. The state also hosts the highest number of factories in the country. The state is 48.40% urbanised, accounting for around 9.26% of the urban population in the country, while the state as a whole accounted for 5.96% of India's total population in the 2011 census. Services contributes to 54% to the gross domestic product of the state, followed by manufacturing at 33% and agriculture at 13%.
The Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) is an airport project for Dr. Babasaheb Ambedkar International Airport, Nagpur. It is the biggest economical development project currently underway in India in terms of investments. The project aims to exploit the central location of Nagpur and convert the present airport into a major cargo hub with integrated road and rail connectivity.
Santacruz Electronics Export Processing Zone (SEEPZ) is a Special Economic Zone in Mumbai, India. Situated in the Andheri East area, it is subjected to liberal economic laws as compared to the rest of India to promote rapid economic growth using tax and business incentives and attract foreign investment and technology. Seepz was created in 1973 and was seen as export processing zone. Since then many other SEZ's have been created in rest of India. SEEPZ mainly houses electronic hardware manufacturing companies, software companies, and jewelry exporters of India. More than 40 percent of India's total jewelry exports ($2,222.31 million) out of $5,210.69 million during year 2006-2007 came from units within SEEPZ.
The city of Thrissur, the cultural capital of Kerala, is also a major commercial and business hub of South India. It is said to be the heartland of Kerala's business acumen and home to most every leading Malayali entrepreneurs. The city which is famous for Bullion, Banking and its Business acumen, is the darling of investors in Kerala. Thrissur is also referred as the Golden city of India. It manufactures 70% of plain gold jewellery in Kerala per day. According to a survey, Thrissur city has been placed on 7th among the ten cities in India to reside. According to Registrar of Companies, the period from 1 January to 31 March 2010, 87 companies were registered in Thrissur and stood second in Kerala after Cochin. Thrissur's traditional strength lies in best entrepreneurial and financial capabilities.
Domestic Tariff Area (DTA) or Domestic Tariff Zone (DTZ) means an area within India that is outside the Special Economic Zones and EOU/EHTP/STP/BTP.
In Bangladesh, the principal taxes are Customs duties, Value-Added-Tax (VAT), supplementary duty, income tax and corporation tax.
Kinfra Film and Video Park is India's first Infotainment Industrial Park. It is also the first SEZ in India for animation and gaming. It is situated in Thiruvananthapuram, the capital of Kerala State. The Park is a fully owned subsidiary of KINFRA, a statutory body of the Kerala Government.
Falta is a village and a gram panchayat within the jurisdiction of the Falta police station in the Falta CD block in the Diamond Harbour subdivision of the South 24 Parganas district in the Indian state of West Bengal.
Economy of Coimbatore is heavily influenced by information technology, engineering and textiles. Coimbatore is called the Manchester of South India due to its extensive textile industry, and IT industry, small and medium scale enterprise gdp(gross domestic product) of Coimbatore city is around $20 billion in 2021.It is second largest city by GDP in Tamil Nadu. The city has four special economic zones [SEZ], ELCOT SEZ, KGISL SEZ, SPAN Venture SEZ, Aspen SEZ and at least five more SEZs are in the pipeline. In 2010, Coimbatore ranked 15th in the list of most competitive Indian cities.
Mundra Port is India's first private port, largest container port and largest commercial port, located on the northern shores of the Gulf of Kutch near Mundra, Kutch district, Gujarat. Formerly operated by Mundra Port and Special Economic Zone Limited (MPSEZ) owned by Adani Group, it was later expanded into Adani Ports & SEZ Limited (APSEZ) managing several ports. In FY 2020–21, Mundra Port handled 144.4 million tonnes of cargo. The port currently handles over 155 MT, which constitutes nearly 11 per cent of India’s maritime cargo. The port also handles nearly 33 per cent of India’s container traffic.
Madras Export Processing Zone (MEPZ) is a special economic zone in Chennai, India. It is one of the seven export processing zones in the country set up by the central government. It was established in 1984 to promote foreign direct investment, enhance foreign exchange earnings, and create greater employment opportunities in the region.
