Q. Consider the following statements:
1.Kandla was the first export processing zone in Asia.
2.In 2005, the Special Economic Zones Act was adopted.
Which of the statements given above is/are correct?
Answer: C
Notes:
Explanation: Kandla, Gujarat, became the first export processing zone (EPZ) in Asia in 1965.
- Although the framework of these EPZs was like that of SEZs, the government started creating SEZs in 2000 as part of the Foreign Trade Policy to address the infrastructure and administrative issues that were believed to have hindered the performance of EPZs.
- In 2005, the Special Economic Zones Act was adopted. In conjunction with the SEZ Rules, the Act went into effect in 2006.
Source: FORUMIAS
