What is the special economic zone (SEZ)?

A Special Economic Zone (SEZ) is a geographical region that has economic laws and regulations that are different from those in the rest of the country. SEZs are established by governments in order to promote economic growth, increase foreign investment, create employment opportunities, and improve the standard of living in the region.

SEZs typically have various incentives and benefits for businesses that operate within them, such as tax breaks, simplified regulatory procedures, and infrastructure support. This creates an environment that is favorable for business growth and development. SEZs can be focused on a particular sector or industry, such as technology or manufacturing, or they can be multi-sectoral.