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'Kandla' is situated on the Gulf of Kachh is well known for which of the following?
- a)Export Processing Zone
- b)Centre for Marine Food products
- c)Cutting and Polishing of diamonds
- d)Ship breaking industry
Correct answer is option 'A'. Can you explain this answer?
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'Kandla' is situated on the Gulf of Kachh is well known for which of t...
Kandla, also known as the Kandla Port Trust or Deendayal Port is a seaport in Kutch District of Gujarat state in western India, near the city of Gandhidham. Located on the Gulf of Kutch, it is one of major ports on west coast.
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'Kandla' is situated on the Gulf of Kachh is well known for which of t...
Kandla, situated on the Gulf of Kachh, is well known for its Export Processing Zone (EPZ). Let's understand what is an EPZ and why Kandla is famous for it.
What is an Export Processing Zone?
An Export Processing Zone (EPZ) is a designated area in a country where companies can set up their manufacturing units and enjoy certain benefits like tax exemptions, relaxed labor laws, and simplified customs procedures. The purpose of an EPZ is to attract foreign investment, promote exports, and create employment opportunities.
Why Kandla is famous for EPZ?
Kandla was the first EPZ set up in India in 1965. It was established to boost India's exports and reduce the trade imbalance by promoting the manufacturing and processing of goods for export. The Kandla EPZ covers an area of 1000 hectares and is home to over 200 manufacturing units.
Some of the reasons why Kandla EPZ is famous are:
1. Strategic Location: Kandla is located near the Arabian Sea and has easy access to major ports and airports. This makes it easier for companies to import raw materials and export finished goods.
2. Infrastructure: Kandla EPZ has well-developed infrastructure like roads, power, water supply, and communication facilities. This makes it easier for companies to set up their units and operate smoothly.
3. Tax Benefits: Companies operating in Kandla EPZ enjoy various tax benefits like exemption from customs duty, excise duty, and income tax. This makes the cost of production lower, which makes the products more competitive in the global market.
4. Employment Opportunities: Kandla EPZ has created employment opportunities for thousands of people in the region. This has helped to boost the local economy and improve the standard of living.
In conclusion, Kandla EPZ is famous for promoting exports, attracting foreign investment, creating employment opportunities, and boosting the local economy.
What is an Export Processing Zone?
An Export Processing Zone (EPZ) is a designated area in a country where companies can set up their manufacturing units and enjoy certain benefits like tax exemptions, relaxed labor laws, and simplified customs procedures. The purpose of an EPZ is to attract foreign investment, promote exports, and create employment opportunities.
Why Kandla is famous for EPZ?
Kandla was the first EPZ set up in India in 1965. It was established to boost India's exports and reduce the trade imbalance by promoting the manufacturing and processing of goods for export. The Kandla EPZ covers an area of 1000 hectares and is home to over 200 manufacturing units.
Some of the reasons why Kandla EPZ is famous are:
1. Strategic Location: Kandla is located near the Arabian Sea and has easy access to major ports and airports. This makes it easier for companies to import raw materials and export finished goods.
2. Infrastructure: Kandla EPZ has well-developed infrastructure like roads, power, water supply, and communication facilities. This makes it easier for companies to set up their units and operate smoothly.
3. Tax Benefits: Companies operating in Kandla EPZ enjoy various tax benefits like exemption from customs duty, excise duty, and income tax. This makes the cost of production lower, which makes the products more competitive in the global market.
4. Employment Opportunities: Kandla EPZ has created employment opportunities for thousands of people in the region. This has helped to boost the local economy and improve the standard of living.
In conclusion, Kandla EPZ is famous for promoting exports, attracting foreign investment, creating employment opportunities, and boosting the local economy.
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'Kandla' is situated on the Gulf of Kachh is well known for which of the following?a)Export Processing Zoneb)Centre for Marine Food productsc)Cutting and Polishing of diamondsd)Ship breaking industryCorrect answer is option 'A'. Can you explain this answer?
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'Kandla' is situated on the Gulf of Kachh is well known for which of the following?a)Export Processing Zoneb)Centre for Marine Food productsc)Cutting and Polishing of diamondsd)Ship breaking industryCorrect answer is option 'A'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about 'Kandla' is situated on the Gulf of Kachh is well known for which of the following?a)Export Processing Zoneb)Centre for Marine Food productsc)Cutting and Polishing of diamondsd)Ship breaking industryCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 'Kandla' is situated on the Gulf of Kachh is well known for which of the following?a)Export Processing Zoneb)Centre for Marine Food productsc)Cutting and Polishing of diamondsd)Ship breaking industryCorrect answer is option 'A'. Can you explain this answer?.
'Kandla' is situated on the Gulf of Kachh is well known for which of the following?a)Export Processing Zoneb)Centre for Marine Food productsc)Cutting and Polishing of diamondsd)Ship breaking industryCorrect answer is option 'A'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about 'Kandla' is situated on the Gulf of Kachh is well known for which of the following?a)Export Processing Zoneb)Centre for Marine Food productsc)Cutting and Polishing of diamondsd)Ship breaking industryCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 'Kandla' is situated on the Gulf of Kachh is well known for which of the following?a)Export Processing Zoneb)Centre for Marine Food productsc)Cutting and Polishing of diamondsd)Ship breaking industryCorrect answer is option 'A'. Can you explain this answer?.
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