These laws were the foundation of a revolutionary economic policy that brought with it a whole bunch of merits and demerits- The Special Economic Zone (SEZ). With the merging of modernity and globalisation, the socio-economic scenario across the world saw the creation of international trade laws. Additionally, with the contribution of the industrial revolution, the 18th Century thus marked the beginning of the modern-era globalisation. In the proceeding centuries, the spread of Islam and trade relations between the Indian sub-continent and the Mediterranean region flourished.īut it was not until the time the American and French revolution occurred in or timeline, which resulted in the creation of Modern state. Following that, the first ‘trans-world trade’ appeared in the 1st century of the Common Era in the empire of China. He took the initiative to establish links eastwards with Chandragupta Maurya for overland routes between the Mediterranean, Persia, India, and Central Asia.
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