Establishment of SEZs in Buxar and West Champaran
| Event | Details |
|---|---|
| Announcement | Bihar's Industry Minister announced setting up of Special Economic Zones (SEZ) in Buxar and West Champaran. |
| Approval | Central government approved their formation till November 2024. |
| Locations | Navanagar in Buxar and Kumarbagh in West Champaran. |
| SEZ Concept | SEZs are duty-free zones with different trade and commercial laws to encourage investment and create employment. |
| SEZ Administration | Aimed at better administration and ease of doing business. |
| First EPZ in India | Asia's first Export Processing Zone (EPZ) established in Kandla, Gujarat in 1965. |
| SEZ Act | Special Economic Zone Act passed in 2005; implemented with SEZ Rules in 2006. |
| Current SEZs in India | 379 SEZs notified, 265 operational; 64% located in Tamil Nadu, Telangana, Karnataka, Andhra Pradesh, and Maharashtra. |
| Apex Body | Board of Approval headed by Secretary, Department of Commerce (Ministry of Commerce and Industry). |
| Baba Kalyani Committee | Constituted by Ministry of Commerce and Industry to study SEZ policy; submitted recommendations in November 2018. |
| Committee Objective | Evaluate SEZ policy for WTO compatibility, global best practices, and optimal utilization of SEZ capacity. |