Industrial zones are also called Special ____ zones.

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Detailed Solution

Industrial zones are also called Special economic zones. Multinational companies spread their production in developing nations to reduce the cost of production. They are set up in countries with the availability of markets, cheap labour, and concessions from the government. In recent years, state and central governments have taken special steps to attract foreign investment. One of them is setting up industrial zones called special economic zones. These zones have outstanding electricity, water, road, storage, transport, recreational and educational facilities. Companies that have set up their operations in special economic zones have also been offered a 5-year tax concession from the government for an initial period. This scheme has been beneficial in attracting foreign investment to India.

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