EVALUATION OF SPECIAL ECONOMIC ZONE RELATED CHALLENGES AND OPPORTUNITIES IN EXPORT AND IMPORT

Abstract

The world has now evolved into a single global market, making it imperative for companies to excel in international trade. Special Economic Zones (SEZs) have emerged as crucial tools for countries to attract foreign investment, enhance export-oriented growth, and foster employment opportunities. SEZs offer tax benefits and preferential treatments to units operating within their confines. This study seeks to assess the challenges and opportunities related to international trade for SEZ companies. It conducts a survey to gather insights from various stakeholders, including employees, logistics partners, and customs housing agents of SEZ companies, regarding international trade operations within SEZs. A questionnaire is administered to collect opinions on the challenges and opportunities in international trade within SEZs. The gathered data is then analyzed and interpreted to offer valuable suggestions for SEZ companies. While SEZ units are presented with numerous opportunities for achieving rapid and sustainable growth, they also encounter specific challenges and constraints. These challenges may encompass documentation hurdles, stringent customs regulations, coordination with customs departments, and management of logistics and supply chain operations. The objective of the study is to assist companies in managing SEZ-related challenges effectively within the MEPZ (Make in India Economic Zone) while capitalizing on opportunities for balanced and sustainable growth.