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No proposal to review SEZ (special economic zones) policyBy Mrs Gupta, Section News
The government has no immediate proposal to review the policy of special economic zones (SEZs) despite stiff opposition from the Left parties, farmers and non-governmental organisations.
"There is no proposal presently to review the SEZ policy," Minister of State for Commerce Jairam Ramesh told The Tribune today. He was talking on the sidelines of Indian Handicrafts and Gifts Fair held at Greater Noida today. The five-day long fair has generated export business amounting to Rs 1,700 crore, said Mr Rakesh Kumar, Executive Director, Export Promotion Council for Handicrafts. Notably, during his visit to UK and Finland, Prime Minister Manmohan Singh had also said the SEZs were here to stay and government would implement the policy while protecting interests of all stakeholders. The Finance Ministry and the Left parties are, however, pressing for a review of the policy, protesting that the Commerce Ministry was indiscriminately approving the SEZs without taking into account long- term consequences of the policy. Click on Full Story....
Referring to India's trade talks with Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), he said, India had almost finalised trade agreements with the trading block and a meeting to discuss certain pending issues was likely to be held by December.
The Commerce Ministry had recently asked the exporters to provide a feedback on the non-trade barriers impacting the exports to BIMSTEC countries (Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand). Concerned over the possibility of non-tariff barriers (NTBs) of BIMSTEC nations becoming an obstacle to the projected 74 per cent jump in India's exports to them from 2003 figures, the government is collecting data regarding the current and future revenue loss incurred due to the NTBs. It will also find out if the NTBs of BIMSTEC nations are forcing exporters to circumvent the law and cause revenue loss to India. Source- TRIBUNE, October-18/2006
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