| As a result of serious balance of payment crises, India was forced by the world bank and IMF to adopt the New Economic Policy, known as LPG. LPG means Liberalization, Privatization and Globalization. The Globalization component of New Economic Policy was based upon free movement of capital and multinational industries specially into the developing countries like India. Spcial Economic Zones (SEZs) are the consequence of the Globalization. |