(MENAFN- KNN India) SEZ should transform into 'Employment and Economic Enclaves': Review Committee
New Delhi, Oct 6 (KNN) The SEZ Policy Review Committee, headed by Baba Kalyani opined that thatSpecial Economic Zone (SEZ)should now transform into 'Employment and Economic Enclaves (3Es) which will be an integrated ecosystem that focuses on ease of doing business, quality and infrastructurye in order to reduce costs.
The changes in the macro-economic environment in India required a re-look at the SEZ Policy framework so that focus is on enabling generation of 100 million jobs in the manufacturing sector, manufacturing competitiveness within the framework of WTO rules, bringing in services sectors like health care, financial and legal services, repair and design services under SEZs, Committee suggested.
The above recommendations were made during the final round of consultations with the committee members under the chairmanship of the Commerce Secretary.
The Committee held extensive discussions with representatives of government of India and states.
In June, commerce ministry constituted the group to evaluate the SEZ policy with an objective to evaluate the SEZ policy framed in 2000 and suggest measures to make the policy WTO compatible, give suggestions which will encourage manufacturing and services sector and lead to maximizing utilization ofvacant land in SEZ and create seamlessness between SEZ policy and other schemes like Costal Economic Zone, Delhi-Mumbai Industrial Corridor, National Industrial Manufacturing Zone, Food Parks and Textile Parks.
A group constituted to study the special economic zones (SEZ) policy will soon submit its report, said commerce ministry.
MENAFN0610201801550000ID1097535435
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.