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Question
Describe any three steps taken by the Central and State governments to attract foreign investment in India .
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Solution
- In recent years, the central and state governments in India are taking special steps to attract foreign companies to invest in India.
- Industrial zones, called Special Economic Zones (SEZs), are being set up.
- SEZs are to have world class facilities: electricity, water, roads, transport, storage, recreational and educational facilities.
- Companies who set up production units in the SEZs do not have to pay taxes for an initial period of five years.
- Government has also allowed flexibility in the labour laws to attract foreign investment.
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