GJ Town India

Shri Piyush Goyal lauds the efforts of Exporters As the country makes fast recovery in Exports! The Minister of Commerce and Industry Shri Piyush Goyal held meeting, through Video conference, with Office-bearers of Export Promotion Councils (EPCs), to discuss and address the issues of exporters, due to Covid-19. Addressing the EPCs, Shri Goyal said that the Exports, after setbacks in first two months of this financial year, due to Covid-19, are recovering fast, as the Unlock process gains and the Economic activity makes a revival. He said that the data of June, 2020 will reflect the gains, with the merchandise export figures touching almost 88% of the corresponding period last year. He lauded the role of exporters for attaining the feat in such a short time. The Minister said that their hard work, self-confidence and determination really paid off. He said that the achievement is all the more laudable because many of the areas in the country are still under containmen

Definition amended ‘person’ & included a ‘trust’ Cabinet approves Promulgation of an Ordinance for Amendment to the Special Economic Zones Act, 2005! The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved promulgation of an Ordinance to amend the definition of "person", as defined in sub-section (v) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005) to include a trust, to enable the setting up of a unit in a Special Economic Zone by a trust, as also to provide flexibility to the Central Government to include in this definition of a person, any entity that the Central Government may notify from time to time.   Impact: The present provision of the SEZs Act, 2005 do not permit 'trusts' to set up units in SEZs. The amendment will enable a trust to be considered for grant of permission to set up a unit in SEZs.  The amendment will also provide flexibility to the Central Government to include in this definitio