Prabhu urges expert group to suggest policy changes to make SEZ simple and transparent

New Delhi, June 26 (KNN) Commerce and Industry Minister Suresh Prabhu urged the members of the group constituted by government to study the Special Economic Zone (SEZ) policy, to review the entire ecosystem of the SEZs to suggest policy changes in order to make SEZ simple and transparent.

The aim is to remove regulations in industry without compromising on environmental concerns, Prabhu added.

He was speaking at the first meeting with group of eminent personalities constituted by the government to study the Special Economic Zones (SEZ) Policy of India held on June 22.

Baba Kalyani, Chairman Bharat Forge and Chairman of this group, pointed out that biggest challenge today was creation of jobs and the focus of the group would be to address this issue.

The group will make suggestion for shift from fiscal incentives to employment based incentives, reframe the boundaries and introduce grandfathering clause for existing provisions, he added.

The group has decided to meet in the middle of July, 2018, again and will submit its report by the end of August 2018.