10 GK Quiz on Special Economic Zones (SEZ) in India

GK Quiz on Special Economic Zones (SEZ) in India: Take the GK Test on India’s Export Processing Zones or Special Economic Zones. The subjects will be beneficial for several competitive exams, including the UPSC, SSC, NDA, and NA, among others. Look down below.

GK Quiz on Special Economic Zones

GK Quiz on Special Economic Zones: Try the upcoming GK test centred on India’s Special Economic Zones (SEZ). India was one of the first nations to recognise the effectiveness of the export processing zone model. Answer the following questions.

1. Which was the first EPZ of Asia?

(A) Kandla 

(B) Kolkata 

(C) Chennai 

(D) Kochi

Ans. A

Explanation: Asia’s first EPZ was set up in Kandla, Gujarat. 

2. How many Central Government SEZ are there in the country?

(A) 7

(B) 6

(C) 5

(D) 11

Ans. A

Explanation: There are 7 Central Government SEZs set up prior to the enactment of SEZs Act 2005. 

3. Which of the following is one of the Central Government SEZ?

(A) Falta 

(B) Kochi

(C) Noida 

(D) Chittoor

Ans. D

Explanation: Chittoor, Visakhapatnam SEZ is a state government Special Economic Zone. 

4. How many State SEZ prior to SEZ Act 2005, are there in India?

(A) 11

(B) 15

(C) 7

(D) 21

Ans. A

Explanation: 11 other Special Economic Zones have been set up by state governments/ private sector prior to enactment of SEZ Act 2005. 

5. Which state has the maximum number of SEZ?

(A) Telangana

(B) Tamil Nadu

(C) Karnataka 

(D) Uttar Pradesh

Ans. A

Explanation: Telangana has the maximum number of SEZ that accounts to 68. 

6. Which of the following statements is true about SEZ?

i) There is duty free import of raw materials for production

ii) 100% IT exemption on export income is given for first 5 years in SEZ units

(A) Only i

(B) Only ii

(C) Both i and ii

(D) None of the above 

Ans. C

Explanation: In SEZ there are a few perks given to the units. Both the above statements are one of those advantages. 

7. Which of the following are one of the objectives of SEZ?

(A) Generation of economic activity

(B) Promotion of export of services

(C) Investment from Foreign sources

(D) All of the above 

Ans. D

Explanation: The objectives of SEZ include generation of economic activities, promotion of exports of goods and services, promotion of investment from domestic and foreign resources etc.  

8. Which committee was constituted by the Ministry of Commerce to study the existing SEZ policy?

(A) Baba Kalyani committee

(B) Panchi committee

(C) Ranganathan Committee

(D) None of the above 

Ans. A

Explanation: The Baba Kalyani led committee was constituted by the Ministry of Commerce and Industry to study the existing SEZ policy of India.

9. How much can SEZ units borrow externally in one year without maturity restriction?

(A) $ 100 million 

(B) $ 200 million

(C) $ 500 million

(D) $ 600 million

Ans. C

Explanation: External commercial borrowing by SEZ units upto US $ 500 million in a year is allowed without any maturity restriction through recognized banking channels.

10. About 64% of the SEZs are located in five states of India. Which of the following is not one of them?

(A) Tamil Nadu

(B) Andhra Pradesh

(C) Maharashtra

(D) Madhya Pradesh

Ans. D

Explanation: The states having maximum concentration of SEZs are Tamil Nadu, Telangana, Karnataka, Andhra Pradesh and Maharashtra.

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