Commerce Minister outlines review & action taken on SEZ Policy to boost exports

Posted by Daily Shipping Times on 27-03-2017        Tweet

NEW DELHI: The following initiatives have been taken in recent years for implementation of the SEZ policy in the Country and resolve the issues including the efforts made to maintain the level playing field for domestic tariff area industries visa vis Special Economic Zone Units, Commerce Minister Nirmala Sitraman informed in the Lok sabha.

She said Minimum Land Area requirement for setting up of new SEZs has been reduced to 50 per cent for Multi-product and Sector-specific SEZs. Sectoral broad-banding has been introduced to encompass similar / related areas under the same Sector. A new sector 'agro-based food processing' sector has been introduced to encourage agro-based industries in SEZs. Dual use of facilities like Social & Commercial infrastructure by SEZs and non-SEZs entities has been allowed in order to make SEZ operations more viable. Online processing of various activities relating to SEZ Developers and Units has been introduced for improving Ease of Doing Business.

She said the Government on the basis of inputs and suggestions received from the stakeholders on public policy and operational framework of SEZ scheme periodically reviewed the policy and operational framework of SEZS. It took necessary measures so as to facilitate speedy and effective implementation of SEZ Policy she said.