Special Economic Zones Act, 2005 (Act No. 28 of 2005).

This Act, consisting of 58 sections divided into seven Chapters and three Schedules, provides for the establishment, development and management of the Special Economic Zones for the promotion of exports. In particular, it establishes that a Special Economic Zone may be established by the Central Government, State Government, or any person for manufacture of goods or rendering services or for both or as a Free Trade and Warehousing Zone. Any person, who intends to set up a Special Economic Zone, may, after identifying the area, make a proposal to the State Government concerned for the purpose of setting up the Special Economic Zone. The Central Government, while notifying any area as a Special Economic Zone or an additional area to be included in the Special Economic Zone and discharging its functions under this Act, shall be guided by the following, namely: a) generation of additional economic activity; b) promotion of exports of goods and services; c) promotion of investment from domestic and foreign sources; d) creation of employment opportunities; e) development of infrastructure facilities; and f) maintenance of sovereignty and integrity of India, the security of the State and friendly relations with foreign States.