Karnataka HC: A Neighbour Cannot be Charged With Matrimonial Cruelty under Section 498A IPC  ||  Revisional Power U/S 25B(8) of Delhi Rent Control Act is Supervisory; HC Cannot Revisit Facts  ||  Poverty Cannot Bar Parole; Rajasthan HC Waives Surety For Indigent Life Convict, Sets Guidelines  ||  Delhi High Court: Late Payment of TDS Does Not Absolve Criminal Liability under the Income Tax Act  ||  NCLT Kochi: Avoidance Provisions under Insolvency Code Aim to Restore, Not Punish, Parties  ||  Bombay High Court: In IBC Cases, High Courts Lack Parallel Contempt Jurisdiction over the NCLT  ||  Supreme Court: Concluded Auction Cannot Be Cancelled Merely To Invite Higher Bids at a Later Stage  ||  SC: In Customs Classification, Statutory Tariff Headings and HSN Notes Prevail over Common Parlance  ||  SC: Under the Urban Land Ceiling Act, Notice U/S 10(5) Must be Served on the Person in Possession  ||  Supreme Court: Only Courts May Condone Delay; Tribunals Lack Power Unless Statute Allows    

SEZ Policy Report Submitted to Commerce Minister- (Press Information Bureau) (19 Nov 2018)

MANU/PIBU/1529/2018

Commercial

The Baba Kalyani headed committee presenting SEZ policy report to Commerce Minister

The Baba Kalyani led committee constituted by the Ministry of Commerce & Industry to study the existing SEZ policy of India submitted its report to the Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu, in New Delhi today.

The objectives of the committee were to evaluate the SEZ policy and make it WTO compatible, suggest measures for maximizing utilisation 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 textiles parks.

While submitting the report to the Commerce Minister, Baba Kalyani, Chairman, Bharat Forge Ltd., said that if India is going to become a USD 5 trillion economy by 2025 then the current environment of manufacturing competitiveness and services has to undergo a basic paradigm shift. The success seen by services sector like IT and ITES has to be promoted in other services sector like health care, financial services, legal, repair and design services.

The Government of India has set a target of creating 100 million jobs and achieving 25% of GDP from the manufacturing sector by 2022, as part of its flagship 'Make in India' programme. Furthermore, the Government plans to increase manufacturing value to USD 1.2 trillion by 2025. While these are ambitious plans to propel India into a growth trajectory, it requires evaluation of existing policy frameworks to catalyse manufacturing sector growth. At the same time, policy needs to be compiled with the relevant WTO regulations.

In his interaction with the committee Suresh Prabhu said that the suggestions of the committee are very constructive and the Commerce Ministry will immediately begin formal consultations with the Finance Ministry and other Ministries so that implementation of the committee's recommendations may be done without any delay.

Tags : REPORT   SUBMISSION   SEZ  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved