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SEZ
The SEZ Corridor is an emerging corridor implementing a number of Special Economic Zones (SEZs) along the Grand Southern Trunk Road (NH 45) in Chennai. Started with the establishment of the Madras Export Processing Zone in 1984 (converted to a SEZ in 2003), the SEZ corridor currently has 5 operational SEZs and over 10 approved projects in development. The GST Road is widely made use of for SEZ projects due to its connectivity with various means of transport by road, rail and air. This is evident by the presence of the Chennai International Airport, various railway stations parallel to the road, and also it's connectivity to the complex road Network of the National Highways Authority of India.
A number of SEZ projects has emerged in this stretch, making it the SEZ corridor of Chennai. It includes MEPZ SEZ established in 1984, Mahindra World City, New Chennai, Shriram Properties's Gateway SEZ, Estancia SEZ and ETL Infrastructure-2/”>INFRASTRUCTURE. It is also emerging as a major IT SEZ region with a number of huge investments by Infosys. Infosys has set up its largest development center in Mahindra SEZ while India Land Tech Park is developing a massive 500-acre (2.0 km2) SEZ which is estimated to have 20,900,000 sq ft (1,940,000 m2) office space for both IT and Electronics use. Shriram The Gateway SEZ, is an integrated Township with IT/ITeS SEZ residential and mall, which is also home for IT majors like Accenture, ReDIM Information Systems and EISL is an IT/ITES SEZ by ETL Infrastructure at Chengalpattu on 260 acres (1.1 km2).
Industrial corridors
Industrial Corridor refers to a set of infrastructural spending allocated to a specific geographical area, with the aim of stimulating industrial development. An industrial corridor aims to crease an area with a cluster of manufacturing or other Industry.
The major Indian Industrial Corridors are:
- Delhi-Mumbai Industrial Corridor (DMIC);
- Bengaluru- Mumbai Economic Corridor (BMEC);
- Chennai-Bengaluru Industrial Corridor (CBIC);
- Vizag-Chennai Industrial Corridor (VCIC) and
- Amritsar-Kolkata Industrial Corridor (AKIC)
Government of India has identified, planned and launched five industrial corridor projects under Make in India Campaign in the Union Budget of 2014-2015, to provide an impetus to industrialisation and planned Urbanisation. In each of these corridors, manufacturing is key economic driver and these projects are seen as critical in raising the share of manufacturing in India’s Gross Domestic Product from the current levels of to to by 2022. A National Industrial Corridor Development Authority (NICDA) is being established to converge and integrate the development of all industrial corridors.
Delhi-Mumbai Industrial Corridor (DMIC)
The DMIC project was launched in pursuance of an MOU signed between the Government of India and the Government of Japan in December 2006. DMIC Development Corporation (DMICDC) incorporated in 2008, and it is the implementing agency for the project. DMICDC has been registered as a company with 49% Equity of Government of India, 26% equity of the JBIC and the remaining held by government financial institutions. The Japanese Government had also announced financial support for DMIC project to an extent of USD 4.5 Billion in the first phase for the projects with Japanese participation involving cutting-edge technology.
Bengaluru- Mumbai Economic Corridor (BMEC)
The Bengaluru-Mumbai Economic Corridor (BMEC) spreaded across the states of Maharashtra and Karnataka is a proposed economic corridor in India between Mumbai and Bangalore. The Indian government aims to generate an Investment over ₹3 lakh crore (US$45 billion) from this corridor and expects it to create 2.5 million jobs.
Chennai-Bengaluru Industrial Corridor(CBIC)
The mega infrastructural plan of Chennai – Bengaluru Industrial Corridor aims to come up along Chennai, Sriperumbudur, Ponnapanthangal, Ranipet, Chittoor, Bangarupalem, Palamaner, Bangarpet, Hoskote and Bangalore. It is expected to boost commerce between south India and East Asia by enabling quicker movement of goods from these places to the Chennai and Ennore Ports.
Vizag-Chennai Industrial Corridor (VCIC)
With Vizag-Chennai Industrial Corridor, four nodes namely Vishakhapatnam, Kakinada, Gannavaram-Kankipadu and Srikalahasti-Yerpedu of Andhra Pradesh have been identified for development. This new industrial corridor is expected to spur Growth by augmenting existing investment in world-class transport networks, infrastructure, and industrial and urban clusters.
Greater connectivity and economic integration between South Asia and the rest of Asia is likely to contribute significantly to development and foster regional cooperation as well. VCIC will create EMPLOYMENT opportunities that alleviate POVERTY and reduce inequality.
Amritsar-Kolkata Industrial Corridor (AKIC)
Amritsar Kolkata Industrial Corridor (AKIC) project is structured around the Eastern Dedicated Freight Corridor (EDFC) and also the highway systems that exist on this route. The Project intends to facilitate development of a well-planned and resource efficient industrial base served by world class sustainable infrastructure, bringing significant benefits in terms of innovation, manufacturing, job creation and resource security to states coming within its Influence Region.
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Special Economic Zones (SEZs) are designated areas with economic and fiscal incentives aimed at promoting trade and investment. They are typically located in areas with good infrastructure and access to markets. SEZs have been used by many countries to attract foreign investment and promote Economic Development.
India has a long history of using SEZs to promote economic development. The first SEZs were established in India in the 1960s. However, it was not until the 1990s that SEZs began to play a major role in India’s economic development.
The SEZ policy in India was first announced in 1991. The policy aimed to promote exports and attract foreign investment. The policy also aimed to create jobs and improve infrastructure in the SEZs.
The SEZ policy has been successful in attracting foreign investment and promoting exports. The number of SEZs in India has increased from 10 in 1991 to 400 in 2017. The exports from SEZs have increased from $1 billion in 1991 to $100 billion in 2017.
The SEZ policy has also been successful in creating jobs. The number of jobs created in SEZs has increased from 1 million in 1991 to 10 million in 2017.
The SEZ policy has also been successful in improving infrastructure in the SEZs. The SEZs have access to good roads, power, water, and telecommunications.
The SEZ policy has faced some challenges. One challenge is that the SEZs have not been able to attract enough investment from domestic companies. Another challenge is that the SEZs have not been able to create enough jobs for the local Population.
The government of India has taken some steps to address the challenges faced by the SEZs. The government has increased the incentives for domestic companies to invest in SEZs. The government has also increased the number of jobs that are required to be created in SEZs.
The SEZ policy is likely to continue to play a major role in India’s economic development. The SEZs are expected to continue to attract foreign investment, promote exports, and create jobs.
Industrial Corridors are a group of geographically contiguous industrial areas that are linked by infrastructure and common policies. They are designed to promote economic development by attracting investment and creating jobs.
India has a number of industrial corridors, including the Delhi-Mumbai Industrial Corridor (DMIC), the Chennai-Bengaluru Industrial Corridor (CBIC), and the Amritsar-Kolkata Industrial Corridor (AKIC).
The DMIC is the largest industrial corridor in India. It is a 1,483-kilometer-long corridor that connects Delhi and Mumbai. The DMIC is expected to attract $100 billion in investment and create 10 million jobs.
The CBIC is a 584-kilometer-long corridor that connects Chennai and Bengaluru. The CBIC is expected to attract $40 billion in investment and create 5 million jobs.
The AKIC is a 2,000-kilometer-long corridor that connects Amritsar and Kolkata. The AKIC is expected to attract $60 billion in investment and create 6 million jobs.
Industrial Corridors have the potential to boost economic growth and create jobs in India. However, there are a number of challenges that need to be addressed in order for them to be successful. These challenges include:
Land acquisition: Land acquisition is a major challenge for industrial corridors. The government needs to acquire land from farmers and other landowners in order to develop the corridors. This can be a difficult and time-consuming process.
Infrastructure: Industrial corridors need to be well-connected by infrastructure, such as roads, railways, and Airports. The government needs to invest in infrastructure in order to make the corridors attractive to investors.
Logistics: Industrial corridors need to have good logistics in order to be successful. The government needs to improve the logistics infrastructure in the corridors, such as warehouses and transportation systems.
Skill development: Industrial corridors need to have a skilled workforce in order to attract investment. The government needs to invest in skill development programs in order to create a skilled workforce for the corridors.
Despite the challenges, industrial corridors have the potential to boost economic growth and create jobs in India. The government needs to address the challenges in order for the corridors to be successful.
What are SEZs?
SEZs, or Special Economic Zones, are designated areas within a country that offer certain tax and other incentives to businesses that operate within them. The goal of SEZs is to promote economic growth and development by attracting foreign investment and creating jobs.
What are the benefits of SEZs?
There are several benefits to businesses that operate in SEZs. These include:
- Tax breaks: SEZs typically offer a number of tax breaks, such as exemptions from corporate Income tax and import duties.
- Favorable regulations: SEZs often have more favorable regulations than other parts of the country, making it easier for businesses to operate.
- Access to infrastructure: SEZs typically have access to high-quality infrastructure, such as roads, power, and water.
- A skilled workforce: SEZs often have access to a skilled workforce, as they are located in areas with good educational and training facilities.
What are the criticisms of SEZs?
There are also some criticisms of SEZs. These include:
- Lack of transparency: SEZs are often criticized for a lack of transparency, as they are often exempt from environmental and labor laws.
- Social and environmental impacts: SEZs have been criticized for their negative social and environmental impacts, such as displacement of people and pollution.
- Benefits to foreign companies: SEZs have been criticized for benefiting foreign companies at the expense of local businesses.
What are the industrial corridors of India?
Industrial corridors are large-scale infrastructure projects that are designed to promote economic development by connecting industrial clusters. The Indian government has identified a number of industrial corridors, which are being developed with the help of public and private investment.
What are the benefits of industrial corridors?
Industrial corridors offer a number of benefits, including:
- Improved connectivity: Industrial corridors improve connectivity between industrial clusters, which can help to reduce costs and improve efficiency.
- Favorable investment Climate: Industrial corridors are often designed to create a favorable investment climate, with access to infrastructure, land, and other Resources.
- Cluster development: Industrial corridors can help to promote cluster development, as they provide a platform for businesses to collaborate and share resources.
- Job creation: Industrial corridors can create jobs in the construction and operation of the corridor, as well as in the businesses that locate in the corridor.
What are the criticisms of industrial corridors?
Industrial corridors also face some criticisms, including:
- High costs: Industrial corridors can be expensive to develop, and the benefits may not always outweigh the costs.
- Environmental impacts: Industrial corridors can have negative environmental impacts, such as pollution and land degradation.
- Social impacts: Industrial corridors can have negative social impacts, such as displacement of people and loss of livelihoods.
- Benefits to large businesses: Industrial corridors have been criticized for benefiting large businesses at the expense of small and medium-sized businesses.
Question 1
Which of the following is not a type of Special Economic Zone (SEZ) in India?
(A) Export Processing Zone (EPZ)
(B) Special Economic Zone (SEZ)
(C) Free Trade Zone (FTZ)
(D) Special Economic Zone (SEZ)
Answer
(D)
Question 2
Which of the following is not an objective of SEZs in India?
(A) To promote exports
(B) To attract foreign investment
(C) To create employment
(D) To promote import substitution
Answer
(D)
Question 3
Which of the following is not a benefit of SEZs in India?
(A) They provide a boost to exports
(B) They attract foreign investment
(C) They create employment
(D) They lead to import substitution
Answer
(D)
Question 4
Which of the following is not a criticism of SEZs in India?
(A) They lead to Environmental Degradation
(B) They lead to social unrest
(C) They lead to regional disparities
(D) They lead to Corruption
Answer
(C)
Question 5
Which of the following is not an industrial corridor in India?
(A) Delhi-Mumbai Industrial Corridor (DMIC)
(B) Chennai-Bengaluru Industrial Corridor (CBIC)
(C) Amritsar-Kolkata Industrial Corridor (AKIC)
(D) Bangalore-Hyderabad Industrial Corridor (BHIC)
Answer
(D)
Question 6
Which of the following is not an objective of industrial corridors in India?
(A) To promote economic development
(B) To attract foreign investment
(C) To create employment
(D) To reduce regional disparities
Answer
(B)
Question 7
Which of the following is not a benefit of industrial corridors in India?
(A) They provide a boost to economic development
(B) They attract foreign investment
(C) They create employment
(D) They reduce regional disparities
Answer
(B)
Question 8
Which of the following is not a criticism of industrial corridors in India?
(A) They lead to environmental degradation
(B) They lead to social unrest
(C) They lead to corruption
(D) They lead to regional disparities
Answer
(D)