Chapter

Opportunities, Challenges, and Policy Suggestions

Aradhna Aggarwal

in Social and Economic Impact of SEZs in India

Published in print February 2012 | ISBN: 9780198077275
Published online September 2012 | e-ISBN: 9780199081035 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198077275.003.0011
Opportunities, Challenges, and Policy Suggestions

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This concluding chapter highlights some major challenges being faced by the special economic zone (SEZ) policy. It argues that SEZs need to be viewed as testing laboratory of the problems that any industrialization programme might face in the country. The study reveals that a strategic policy intervention that includes vision, strong commitment, the creation of legal and institutional framework, and a continuously unfolding and dynamic set of policies is a key to the success of SEZs. The future prospects of the policy will depend on vision, a cprogressive approach, and strong commitment that reflects intense focus on growth, knowledge of the necessary and sufficient conditions for growth, and belief in the strategy adopted for growth. Weak commitment, policy reversals, and lack of vision in policy implementation may seriously jeopardize efforts to promote industrialization through SEZs in future.

Keywords: SEZs; World Trade Organization; Regional Trading Agreement

Chapter.  2714 words. 

Subjects: Economic Development and Growth

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