The correct answer is: d) All of the above.
SEZs (Special Economic Zones) are designated areas with economic and trade laws that are more liberal than a country’s standard commercial laws. They are established to promote export-oriented industries, provide tax benefits and simplified procedures, and attract foreign investment.
SEZs offer a number of advantages to businesses, including:
- Tax breaks: SEZs typically offer tax breaks on corporate income tax, import duties, and export taxes.
- Simplified procedures: SEZs have simplified procedures for setting up and operating a business, such as faster approvals and less paperwork.
- Access to infrastructure: SEZs typically have access to high-quality infrastructure, such as roads, power, and water.
- Skilled workforce: SEZs typically have access to a skilled workforce, as they are often located in areas with good educational and training facilities.
These advantages have made SEZs popular with businesses, and they have been successful in attracting foreign investment and promoting export-oriented industries.
In Bihar, SEZs have been established in a number of locations, including Patna, Muzaffarpur, and Gaya. These SEZs have attracted a number of businesses, including multinational corporations such as Samsung and LG. The SEZs have been successful in promoting export-oriented industries and attracting foreign investment.