Committee headed by Baba Kalyani presents SEZ policy report to Commerce Minister

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 recently.

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 healthcare, financial services, legal, repair and design services.

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