India’s commerce and industry ministry has examined revamping of the special economic zone (SEZ) policy to meet global challenges being faced by exporters, according to a recent official statement, which said it has also discussed ways for implementation of the remaining recommendations of Baba Kalyani report on SEZ to facilitate ease of doing business.
Commerce and industry minister Piyush Goyal chaired a meeting last week to review these issues.
The statement said the recommendations which have been completed include review of specific exclusions proposed in net foreign exchange computation in light of the 'Make in India' initiative, sharing of duty exempted assets/infrastructure between units to be allowed against specific approval and formalisation of de-notification process for enclaves.
The committee was constituted by the ministry to study the existing SEZ policy and had submitted its recommendations in November 2018.
Fibre2Fashion News Desk (DS)