Bill to amend SEZ law passed

Parliament passed a bill to amend SEZ law

A bill that seeks to allow trusts to set up units in special economic zones (SEZs) by amending the SEZ law was approved by Parliament. With the government asserting these zones were an engine of growth and employment. The Rajya Sabha gave its nod by a voice vote, a day after Lok Sabha passed the Special Economic Zones (Amendment) Bill, 2019. The Bill will replace the Special Economic Zones (Amendment) Ordinance, 2019, which was promulgated in March. Commerce and Industry Minister Piyush Goyal said: “Until now, We have eight proposals from such trusts. Total investment proposed by these trusts comes out to be Rs 8,000 crore, the government expects about $3 billion, which is around Rs 20,000 crore investments annually.

 

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