SEZ and Industrialization

Industrialization is a kind of process, which helps for the transformation of the economy. Individual labourers are sometimes replaced through mechanized mass production. One of the main characteristics of industrialization is economic growth. It is mostly associated with the European industrial revolution of the late 18s.The Second World War was the main plot from where industrialization took its birth and started spreading across the world. It too led to the development and growth of some urban areas. 

The Special Economic Zone is the regulator that regulates the economy of various regions of the same country. Once a country or any individual adds themselves with the ‘SEZ economic regulations’ they face some typical economic advantages.  

Definition of SEZ

SEZ is the abbreviation form of the special economic zone. It helps to regulate the overall economy of some particular area. It also affects the various parts of the same country. After being attached with the SEZ an individual and a country as well transferred to its economic improvement. The SEZs have been created to facilitate swift economic growth in some geographic areas. It also has its various usages such as it helps to enlarge export levels of a country and at the same time to the other countries where the intermediate products have been supplied from a specific country.

These processes have their positive impacts but people often abuse this process for their fulfilment. It can also create a large level of bureaucracy because of its regulatory systems. India is regarded as one of the first countries that associate itself with the SEZ. The SEZ in India offers impetus to the resident businesses. It offers some competitive infrastructures as well. Moreover, the SEZS are the most popular investment destinations in India. 

Impacts of SEZ on the economy

It is a matter of discussion, the way the Indian economy gets affected by the SEZ. Initially, it operates the Indian economic system, which includes the ‘incentive available units’. The information provided is in part received by the ‘SEZ’. Previously the Indian government used the export processing units to export the products made by India but now the Indian government is more focused on working on the SEZ. The government of India uses this for the development of the infrastructure and the bureaucracy. However, many challenges have come across while using this particular business form for development but still it manages to fulfil the needs of the government. It is a kind of purified zone through which the export and import business in a part can be maintained. It also has its impacts on the Indian GST. It boosted the Indian GST and helped to maintain the overall growth. Through the SEZ, many foreign investors have invested in the Indian business world and pushed it to the path of success. Many domestic jobs also have been created after the Indian government involved their business with the SEZ.

Definition of Industrialization

Industrialization is a term that expresses the involvement with the “European industrial revolution”. It is also regarded as one of the main parts of the “European industrial revolution”. It is thought that the revolution had taken place just after the Second World War and started spreading its roots all over the world. It had to meet the result of the growth and the development of a certain region as well as the whole country and it did so. It is a kind of outgrowth of capitalism and has its effects on society. Industrialization helps to improve the export and import business of a country along with, it assists to promote the small businesses to larger ones.

For example, the ‘steam engine’ was a crucial invention that helped many more machinery inventions. In part, industrialization has a great impact on technology as well. Through industrialization, the textile industry and the metal production industries have gone to a peak and developed in a good manner. 

Effects of Industrialization

Industrialization has its good and crucial impacts all over the world as well as in Indian industries as well. It directly hits the basics of industrial development, which also boosts the economic growth of India. Many positive impacts are available in the business world that further helps the development of the particular industry. Initially, industrialization boosted the economic growth of the country. It has its impacts on the environment too that can be a part of the discussion here. Though the effect of industrialization on the environment is in a negative state, still it needs to be discussed so that it can be rectified. By knowing all the negative effects of industrialization in the environment through this study, the future scholar and the masses can be a bit careful about the environment. Firstly, the forests had been cut down and many wild animals lost their lives. It directly leads to the ecological imbalance and in some parts; it affects the food chain. The whole ecosystem had been destroyed for making new buildings, new roads, many new industries, and many more things.

Conclusion

The whole study is a clear vision of industrialization and it explains the SEZ. Through the study, future scholars will be able to understand both the positive and negative impacts of the SEZ as well as the impacts of industrialization. The industry of a country is a crucial plot so the higher authorities must look after the negatives that occur through industrialization.