Why in news
Seventeen workers have died and many have been injured after the blast at pharma company Escientia’s plant in the Atchutapuram Special Economic Zone (SEZ) in Anakapalli district, Andhra Pradesh
Special Economic Zone (SEZ)
An SEZ is a territory within a country that is typically duty-free (Fiscal Concession) and has different business and commercial laws chiefly to encourage investment and create employment.
SEZs are created also to better administer these areas, thereby increasing the ease of doing business.
The government began to establish SEZs in 2000 under the Foreign Trade Policy to redress the infrastructural and bureaucratic challenges that were seen to have limited the success of EPZ (Export Processing Zones).
The Special Economic Zones Act was passed in 2005.
The Act came into force along with the SEZ Rules in 2006.
However, SEZs were operational in India from 2000 to 2006 (under the Foreign Trade Policy).
India’s SEZs were structured closely with China's successful model.
As of 2023, 272 SEZs are operational.
About 64% of the SEZs are located in five states – Tamil Nadu, Telangana, Karnataka, Andhra Pradesh and Maharashtra.
The Board of Approval is the apex body and is headed by the Secretary, Department of Commerce (Ministry of Commerce and Industry).
The Baba Kalyani led committee was constituted by the Ministry of Commerce and Industry to study the existing SEZ policy of India and had submitted its recommendations in November 2018.
Importance of Safety Audits in Preventing Industrial Accidents
Safety audits help identify potential hazards and weaknesses in industrial processes.
They ensure that companies comply with safety standards and regulations, reducing the risk of accidents.
Regular audits can lead to improvements in safety practices and equipment, preventing future incidents.
Proper audits can lead to punitive measures for non-compliance, deterring negligence.
They help adapt safety measures to new chemicals or processes, keeping safety protocols up-to-date.
COMMENTS