When was the first EPZ set up in India?

When was the first EPZ set up in India?
Finance Minister P Chidambaram in his Budget speech said the government will soon bring out a Special Economic Zone Bill and a new trade policy. Take the Rediff Business Quiz and find out how much you know about SEZs in India.

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1. When was the first EPZ set up in India?
a) 1980
b) 1965
c) 1977

Wrong! Try again.

Wrong!
The correct answer is 1965.
The Kandla Free Trade Zone - India's first Export Processing Zone - was set up in 1965. Subsequently, six more EPZs were set up at Santa Cruz (Mumbai), Falta (West Bengal), Chennai (Tamil Nadu), Noida (UP), Cochin (Kerala), and Visakhapatnam (Andhra Pradesh).

Correct!
The Kandla Free Trade Zone - India's first Export Processing Zone - was set up in 1965. Subsequently, six more EPZs were set up at Santa Cruz (Mumbai), Falta (West Bengal), Chennai (Tamil Nadu), Noida (UP), Cochin (Kerala), and Visakhapatnam (Andhra Pradesh).

2. Which EPZ in India is meant exclusively for the exports of electronics and gems & jewellery?
a) Noida (UP)
b) Chennai (Tamil Nadu)
c) Santacruz Electronics Export Processing Zone (SEEPZ)

Wrong! Try again..

Wrong!
The correct answer is SEEPZ.
The Santacruz Electronics Export Processing Zone was established in 1973-74 as uni-product EPZ exclusively for manufacture and export of electronic items. The 100-acre land leased through the Maharashtra Industrial Development Corporation (MIDC), Andheri (East), has over the years become a landmark of Mumbai. Considering the high potential and the pollution-free nature of the gem and jewellery industry, the Government of India decided to permit manufacture and export of these items from SEEPZ during 1987- 88.

Correct!
The Santacruz Electronics Export Processing Zone was established in 1973-74 as uni-product EPZ exclusively for manufacture and export of electronic items. The 100-acre land leased through the Maharashtra Industrial Development Corporation (MIDC), Andheri (East), has over the years become a landmark of Mumbai. Considering the high potential and the pollution-free nature of the gem and jewellery industry, the Government of India decided to permit manufacture and export of these items from SEEPZ during 1987- 88

3. In which year a policy for setting up of Special Economic Zones in India was introduced?
a) April 2000
b) July 1999
c) April 2001

Wrong! Try again..

Wrong!
The correct answer is April 2000.
The Exim Policy of 2000 set the ball rolling for setting up Special Economic Zones in the country with a view to provide an internationally competitive and hassle free environment for exports. The policy provides for setting up of SEZs in the public, private, joint sector or by state governments. It was also envisaged that some of the existing Export Processing Zones would be converted into Special Economic Zones. Accordingly, the government has converted EPZs located at Kandla and Surat (Gujarat), Cochin (Kerala), Santa Cruz (Mumbai-Maharashtra), Falta (West Bengal), Chennai (Tamil Nadu), Visakhapatnam (Andhra Prad esh) and Noida (Uttar Pradesh) into SPZs.

Correct!
The Exim Policy of 2000 set the ball rolling for setting up Special Economic Zones in the country with a view to provide an internationally competitive and hassle free environment for exports. The policy provides for setting up of SEZs in the public, private, joint sector or by state governments. It was also envisaged that some of the existing Export Processing Zones would be converted into Special Economic Zones. Accordingly, the government has converted EPZs located at Kandla and Surat (Gujarat), Cochin (Kerala), Santa Cruz (Mumbai-Maharashtra), Falta (West Bengal), Chennai (Tamil Nadu), Visakhapatnam (Andhra Prad esh) and Noida (Uttar Pradesh) into SPZs.

4. Which is the largest SEZ in terms of export performance in India?
a) Kandla SEZ
b) SEEPZ
c) Noida SEZ

Wrong! Try again.

Wrong!
The correct answer is SEEPZ.
With Rs 6,083 crore (Rs 60.83 bn) in exports out of a total of Rs 10,053 crore (Rs 100.53 bn), SEEPZ (Mumbai), is the largest SEZ in terms of export performance in India as of March 31, 2003.

Correct!
With Rs 6083 crore (Rs 60.83 bn) in exports out of a total of Rs 10053 crore (Rs 100.53 bn), SEEPZ (Mumbai), is the largest SEZ in terms of export performance in India as of March 31, 2003.

5. How many units are operational in the eight functional SEZs in India?
a) About 659
b) About 850
c) Over a 1,000

Wrong! Try again.

Wrong!
The correct answer is about 659.
There are 659 units in operation in the 8 functional SEZs as of March 31, 2003. Investments by the units in these zones are of the order of Rs 10056 crore (Rs 100.56 billion). The SEZ units provide employment to about 86646 persons out of which 32185 are women.

Correct!
There are 659 units in operation in the 8 functional SEZs as of March 31, 2003. Investments by the units in these zones are of the order of Rs 10056 crore (Rs 100.56 billion). The SEZ units provide employment to about 86646 persons out of which 32185 are women.