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National News

Mar 05, 2018
4:29PM

Govt to constitute group for changes in SEZ policy


The government will constitute a group to suggest necessary changes in the policy for Special Economic Zone (SEZs). 

The SEZs are export hubs and contribute significantly to the country's total outbound shipments. 

In a written reply to a question in the Lok Sabha, Commerce and Industry Minister Suresh Prabhu said, the developers and units of these zones enjoy certain fiscal and non-fiscal incentives like no requirement of licence for import and no routine examination by customs authorities of export and import cargo. 

He said, they also enjoy direct and indirect tax benefits.

In a separate reply, the Minister also said that to address concerns of rubber sector, the government has decided to constitute a task force on the commodity for finding out short term solutions and formulating long term strategies to tackle the problems. 

The members of the task force include representatives of state and central government. He said, the effort will be to work towards a rubber policy in consultation with state governments. 

A stakeholders meeting was held last month to discuss several issues pertaining to the natural rubber sector.

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