Guest Lecture 'Linkages in the Global Economy and role of SEZ'

           TITLE OF THE EVENT: Linkages in the Global Economy and role of SEZ

           TYPE OF EVENT: Guest Lecture

DATE:05/10/2021                                              

VENUE: OJAS HALL                                                  

TIME : 10:30 AM onwards

RESOURCE PERSON: CMA VIMAL MISHRA (General Manager, Mahindra World City, Jaipur ).

OBJECTIVE: To create awareness about the importance of SEZ for economic development and employment generation.

DESCRIPTION: A Guest lecture on “Linkages in the Global Economy and role of SEZ” was organised by the Department of Management, IIS (deemed to be University), JAIPUR. The speaker of the session was CMA VIMAL MISHRA (General Manager, Mahindra World City, Jaipur ). In the session he gave us idea about the importance of SEZ.

Special economic zones scheme in India was conceived by the commerce and Industries Minister Muraaoli Maran during a visit to SEZ in China in 1999. SEZs are set up by the central and state governments in India to attract foreign investment. These zones provide world-claaa facilities including electricity, water, roads, transport, recreational & educational facilities. Also, Companies setting up production units in these SEZs do not have to pay taxes for initial period of 5 years.

The main aims of SEZ are :-

  1. Generation of additional economic activity.
  2. Promotion of export of goods and services.

 

  • Geographically demarked area with physical security.
  • Enjoying financial and procedural benefits.
  • Streamlined procedures.
  • Having separate custom area.
  • Governed by more liberal economic laws.

SEZs have become the center of activity in modern economy. They can help attract investment, create jobs and boost exports– both directly and indirectly, where they succeed in building linkages with the broader economy. To be economically viable SEZ should be approved over a particular land area for rapid economic growth in the area and for it to be profitable and self-sustainable.

OUTCOME OF THE ACTIVITY: Students gained knowledge about the importance of SEZ for economic development and employment generation.