The Centre has constituted a group of eminent persons to study the Special Economic Zones, SEZ Policy of India. The group will be headed by Industrialist Baba Kalyani.
The group will evaluate the SEZ policy, suggest measures to cater to the needs of exporters in the present economic scenario and make the SEZ policy WTO compatible. The Group has to submit its recommendation in three months.
The SEZ Policy was implemented from 1st April, 2000. Subsequently, the Special Economic Zones Act, 2005 was passed by Parliament in May, 2005 which received Presidential assent on the 23rd June, 2005 and the Special Economic Zone Act was enacted.
The SEZ Act, 2005, supported by SEZ Rules, came into effect on 10th February, 2006.
Source: AIR