Can anybody explain me one thing? Is it possible to get free NetSuite sandbox account for the developer like in Salesforce (developer org)?
You can be a community developer and you get a free Netsuite account.
see http://www.netsuite.com/portal/developers/overview.shtml
It's a fully functioning standard Netsuite account so you don't get One World functionality but other than that you can do all the development and setup you need to do.
It's a bit restrictive in that once you have turned on some functionality like multi-location inventory you cannot turn it off again.
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