With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, in 2000, the Export-Import (EXIM) Policy of India shifted towards a new scheme of Special Economic Zones (SEZ), wherein EPZs were converted into SEZ. Special Economic Zones (SEZ) have been recognized as an important mechanism for trade and investment promotion, creation of infrastructure, employment generation, promotion of regional development, increase in foreign exchange earnings, improving export competitiveness and transfer of skills and technology. Government has passed special economic zone Act (SEZ Act, 2005) and came into effect on 10th February, 2006, providing for drastic simplification of procedures and for single window clearance on matters relating to central as well as State Governments. Through this paper an attempt is made to the performance measurement systems of SEZ units in Gujarat with special reference to Ahmedabad SEZ units and explores the latest trends in this area of research. Reviewing the relevant literature approach was adopted as a methodology for conducting the present research. Previous academic, theoretical and empirical papers from early stages and up to date papers were reviewed and analyzed. This paper finds that although literature shows significant changes and movements towards using the balanced scorecard (integrated) systems, more work still required in terms of developing more dynamic performance measurement systems that consider significant stakeholders who contribute in achieving better competitive advantage and success for an organization.   
 
KEYWORDS: SEZ, Performance Measurement, Balanced Scorecard.

Introduction Indian country has considered as an Asia’s 3rd largest economy as well as 6th largest in the world by nominal GDP and 3rd largest by purchasing power purity.  From the year 1947-1991 after independence Indian economy was mixed economy and under fiscal crisis. With a view to overcome of fiscal crisis in 1991, India had liberalized its economy for international market and adopted free market principles. (An Analysis of Special Economic Zones in India : A Case Study of Haryana, 2011. But, In New Business Era where Liberalization, Privatization and Globalization for Economic Growth; is a big question for Surviving in today’s competition; which is more important to set up and raise a Business for a requirement to modernization, expansion and diversification the technology which is need for Export Promotion to achieve the economy growth in Developing Countries. So, the concept of Free Trade Zones was existed for many years. SEZ / FTZs have evolved and transformed from the original concept of industrial estates, which were usually fenced areas of 10-300 hectares focused on manufacturing for export purposes. The 1st example of such a zone is the Shannon Export- Processing Zone in Ireland, which was set up in 1958.