As per World Bank-1999, an export processing zone (EPZ) is defined as a territorial or economic enclave in which goods may be imported and manufactured and reshipped with a reduction in duties and/or minimal intervention by custom officials. EPZ Provides plots/factory building in custom bonded area, infrastructural facilities, administrative facilities, fiscal & non-fiscal incentives, etc.
The main Objectives are: Promotion of foreign (FDI) & local investment, diversification of export, development of backward & forward linkages, generation
of
employment, transfer of technology, up-gradation of skill, and development of
management.