Assertion (A) Export Processing Zones (EPZs) were set up as an enclave separated from the Domestic Tariff Area (DTA) and converted into SEZs.
Reason (R) The Export Oriented Units (EOUs) scheme is complimentary to the EPZ and is introduced to enable exporters enjoy liberal package of incentives.

A) (A) is correct, but (R) is incorrect B) (A) is incorrect, but (R) is correct C) Both (A) and (R) are correct, but (R) is not the right explanation of (A) D) Both (A) and (R) are correct and (R) is the right explanation of (A)

Answer & Solution

Correct Answer: Option D

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Assertion (A) Export Processing Zones (EPZs) were set up as an...

Assertion (A) Export Processing Zones (EPZs) were set up as an enclave separated from the Domestic Tariff Area (DTA) and converted into SEZs. Reason (R) The Export Oriented Units (EOUs) scheme is complimentary to the EPZ and is introduced to enable exporters enjoy liberal package of incentives.

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Related Questions on Foreign Trade Policy

Assertion (A) Export Processing Zones (EPZs) were set up as an enclave separated from the Domestic Tariff Area (DTA) and converted into SEZs.
Reason (R) The Export Oriented Units (EOUs) scheme is complimentary to the EPZ and is introduced to enable exporters enjoy liberal package of incentives.