Abstract
This article is aimed at highlighting the success or otherwise of Special Economic Zones (SEZs) in India. India mooted the concept of Special Economic Zones in 1965 much before its neighboring country China adopted the same model. A Special Economic Zone is a geographical region that has economic laws that are more liberal than a country’s typical economic laws. To boost the confidence of the investors Government has enacted Special Economic Zones Act, 2005. Since then, the growth rate of SEZ is enormous with almost 568 SEZs were given formal approval.An assessment is made keeping in view of the achievement of the declared objectives of SEZs since its inception. A comparison is made between India’s SEZ model and China’s SEZ model to understand the basic differences in both the models. Further, Strengths and Weaknesses are analyzed while identifying Opportunities and Threats in Indian scenario. The impact of recent global recession on functioning and growth of SEZs are also considered while assessing the success or otherwise of Special Economic Zones in India.
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