The scheme announced on 31st March 2000 to encourage exports in India was?

Correct option is A

​​Correct Answer:(a) special economic zone​

On 31st March 2000, the Government of India announced the Special Economic Zone (SEZ) scheme to encourage exports by providing a globally competitive environment. The scheme aimed to enhance foreign investment, boost exports, generate employment, and develop infrastructure. SEZs offer various incentives, including tax exemptions, simplified customs procedures, and infrastructure support, making them attractive for exporters.

Information Booster:
● Objective: To promote exports and attract foreign direct investment (FDI).
● Key Features: Tax holidays, duty-free imports, and simplified regulations.
● Locations: SEZs are spread across various states in India, such as Gujarat, Tamil Nadu, and Andhra Pradesh.
● Significance: SEZs contribute significantly to India's export growth, particularly in sectors like IT, manufacturing, and pharmaceuticals.
● Act: The SEZ Act, enacted in 2005, provided a legal framework for the scheme.