Ongoing review and reform, as necessary, of Government policy and procedure is inherent to Public Policy. This post talks about the Review of SEZ Policy.
- The Government, on the basis of inputs/suggestions received from stakeholders on the policy and operational framework of the SEZ Scheme, periodically reviews the policy and operational framework of SEZs and takes necessary measures so as to facilitate speedy and effective implementation of SEZ policy.
- Whenever, SEZ policy is reviewed, efforts are made to maintain a level playing field for Domestic Tariff Area industries vis-a-vis SEZ units/Developers.
Recent initiatives taken to resolve issues within SEZ policy
The following initiatives have been taken in recent years for implementation of the SEZ policy in the country and resolve the issues therein –
- Minimum Land Area requirement for setting up of new SEZs has been reduced to 50% for Multi-product and Sector-specific SEZs.
- Sectoral broad-banding has been introduced to encompass similar / related areas under the same Sector.
- A new sector ‘agro-based food processing’ sector has been introduced to encourage agro-based industries in SEZs.
- Dual use of facilities like Social & Commercial infrastructure by SEZs and non-SEZs entities has been allowed in order to make SEZ operations more viable.
- Online processing of various activities relating to SEZ Developers and Units has been introduced for improving ease of doing business.