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5 initiatives laid for SEZ policy

Staff reporter, New Delhi
20/03/2017   0 Comments

The Government today announced to have taken five initiatives, in recent years, for implementation of the SEZ policy in the country, Bureaucracy Today has learnt.
 
“The decision was made on the basis of inputs received from stakeholders on the policy and operational framework of the SEZ Scheme,” Commerce and Industry Minister, Nirmala Sitharaman today told Lok Sabha in a written reply.
 
Sitharaman said the Government to have reduced Minimum Land Area requirement for setting up of new SEZs to 50 per cent for Multi-Product and Sector-specific SEZs. Also, the Sectoral broad-branding has been introduced to encompass similar or related areas under the same Sector.
 
She also announced that a new sector ‘agro-based food processing’ sector has been introduced along with dual use of facilities like Social and Commercial infrastructure by SEZs and non-SEZs entities has been allowed in order to make SEZ operations more viable. Also, an online processing of various activities relating to SEZ Developers and Units has also been introduced to improve ease of doing business. 
 
“The Government periodically reviews the policy and operational framework of SEZs and takes necessary measures so as to facilitate speedy and effective implementation of SEZ policy. Whenever, SEZ policy is reviewed, efforts are made to maintain a level playing field for Domestic Tariff Area industries vis-a-vis SEZ units/Developers,” Sitharaman said.

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