GJ Town India

Employment generation at 19.96 lakh skills The Special Economic Zones (SEZs) policy was launched in April, 2000.  The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005.  The SEZs Rules, 2006 came into effect on 10th February, 2006.   In addition to seven Central Government Special Economic Zones (SEZs) and 11 State/Private Sector SEZs set-up prior to the enactment of the SEZs Act, approvals have been accorded to 420 proposals for setting up of SEZs in the country. Of 355 notified SEZs, 230 SEZs are operational. SEZs being set up under the SEZ Act, 2005 and SEZs Rules, 2006 are primarily private investment driven. No funds are sanctioned by the Central Government for setting up of SEZ.  However, fiscal concessions and duty benefits have been allowed to developers and units as per the SEZ Act and Rules there under. As on 30.09.2018, exports from SEZs was Rs. 3,33,661 crore and employme

The Government had constituted a Group of eminent persons under the Chairmanship of Baba Kalyani, Chairman M/s. Bharat Forge to study the Special Economic Zone (SEZ) Policy of India on 04.06.2018.   The Group submitted its report to the Government last month.     The key recommendations of the Group are as under: 1:    Framework shift from export growth to broad-based Employment and Economic Growth (Employment and Economic Enclaves-3Es). 2:    Formulation of separate rules and procedures for manufacturing and service SEZs. 3:    Shift from supply driven to demand driven approach for 3Es development to improve efficiency of investment-based on certain industries, current level of existing inventory in the region. 4:    Enabling framework for Ease of Doing Business (EoDB) in 3Es in sync with State EoDB initiatives. One integrated online portal for new investments, operational requirements and exits related matters. 5:    Enhance competitiveness by enabling ecosyste

Baba Kalyani studied the existing SEZ policy of India report submitted! 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. 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 service