Explanation:

- The idea of Export Processing Zones (EPZs) is to promote exports and foreign exchange earnings by creating a favorable economic environment.

- Option 1: Ahmedabad - Not the location of Asia's first EPZ.

- Option 2: Kandla - Kandla, a port city in Gujarat, India, is where Asia's first EPZ was set up in 1965. It was established to boost export-led industrialization.

- Option 3: Mumbai - Though a major commercial hub, it wasn't the first location in Asia to have an EPZ.

- Option 4: Jaipur - Known for its industries, but not related to the first EPZ establishment.