India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone(EPZ) model in promoting exports, with Asia`s first EPZ set up in Kandla in 1965. With a view to overcome the shortcomings on account of the multiplicity of controls and clearances, absence of world-class infrastructure and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones(SEZs) Policy was announced in April 2000. SEZ units may be set up for manufacture of goods and rendering of services.
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