Cabinet approves the SEZ (Amendment) Bill, 2019

  • On 12th June, 2019, Cabinet approved the introduction of Special Economic Zones (SEZ)(Amendment) Bill, 2019.
  • After the amendment of the SEZ Act, 2005, a trust or any entity notified by the central government will be eligible to be considered for grant of permission to set up a unit in SEZs.

Special Economic Zones Act, 2005

  • The major objective of SEZ is generation of additional economic activity, promotion of export of goods and services, investment from domestic and foreign sources and creation of employment opportunities.

Issues with SEZ in India

  • India’s FTA Agreement:With India’s signing free-trade agreements (FTA) with countries, where duties ....

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