- SEZs:
- Objectives: Promote exports, generate economic activity, attract investment, create employment, develop infrastructure.
- Outcomes: Disappointing experience, unutilized land, shortfalls in objectives.
- Nature: Duty-free enclave, deemed foreign territory.
- Industrial Corridors:
- Objectives: Connect economic agents, provide world-class infrastructure, boost manufacturing/trade, attract investment, contribute to regional development.
- Outcomes: Aims to boost manufacturing share in GDP, integrate with Smart Cities.
- Nature: Defined geography with efficient transport system, integrating various economic nodes.
| Feature | Special Economic Zones (SEZ) | Industrial Corridors |
|---|---|---|
| Primary Goal | Export promotion, additional economic activity | Boost manufacturing and trade, regional development |
| Nature | Deemed foreign territory, duty-free enclave | Defined geography with efficient transport system |
| Key Infrastructure | Simplified procedures, tax incentives | High-speed transport, ports, airports, SEZs, logistics parks, townships |
| Focus | Attracting investment for export-oriented units | Developing sound industrial base, attracting investment into manufacturing |
| Outcome (India) | Disappointing, unutilized land, policy issues | Aims to raise manufacturing share in GDP, integrate with Smart Cities |