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3 Indian J. Integrated Rsch. L. 1 (2023)

handle is hein.journals/injloitd4 and id is 1 raw text is: Indian Journal of Integrated Research in Law THE SOCIO-ECONOMIC IMPLICATION OF SEZS Ishan Thakur, BA LLB, National Law School of India University, Bengaluru ABSTRACT SEZs in the developing world is seen as an instrument of development and economic growth. In the Indian context, SEZs have had a divergent trajectory with mixed results when compared to that in China. This paper aims to show that even though the place-based development of SEZs in the initial phase has resulted in inequalities in the short term, with proper policy interventions and state support SEZs have the potential to act as a tool for development and growth in the long-term. The paper provides certain policy suggestions that can aid to achieve balanced regional development and inclusive growth in the long term. The paper attributes the unsatisfactory performance of SEZs in India to several factors such as land acquisition issues, competition between states to attract investors, failure to create linkages between SEZs and local firms, ineffective policy intervention, and failure in creating jobs for low-skilled labours. Further, it emphasizes the importance of policy intervention in order to effectuate proper utilization of spill-overs to achieve positive results in the long term. In conclusion, the paper provides certain recommendations that can help in generating positive results from SEZs in the long term. Page: 1 Volume II Issue VI ISSN: 2583-0538

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