- Commerce and Industry &
Railways Minister chaired a meeting 9th January 2020, in New Delhi to
review the remaining recommendations of the Baba Kalyani report on Special
Economic Zone (SEZ) policy of India.
- Commerce and Industry
Minister examined the revamp of the SEZ policy with a view to meeting the
global challenges being faced by Indian exporters.
- Discussions were also held to
find a way out for implementation of the remaining recommendations in
order to facilitate the ease of doing business in the present global
- The Baba Kalyani led
committee was constituted by the Ministry of Commerce and Industry to
study the existing SEZ policy of India and had submitted its
recommendations in November 2018.
- The objectives of the
- To evaluate the SEZ policy
and make it WTO compatible
- Suggest measures for
maximizing utilization of vacant land in SEZs
- Suggest changes in the SEZ
policy based on international experience and merge the SEZ policy with
other Government schemes like coastal economic zones, Delhi-Mumbai
industrial corridor, national industrial manufacturing zones and food and
- A special economic zone (SEZ)
is an area in which the business and trade laws are different from the
rest of the country.
- SEZs are located within a
country’s national borders, and their aims include increased trade
balance, employment, increased investment, job creation and effective
- To encourage businesses to
set up in the zone, financial policies are introduced.
- These policies typically
encompass investing, taxation, trading, quotas, customs and labour
- Additionally, companies may
be offered tax holidays, where upon establishing themselves in a zone,
they are granted a period of lower taxation.
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