CHENNAI: Chennai Free Trade Zone – developed and promoted by J Matadee Free Trade Zone Pvt Ltd – on Tuesday called for more favourable policy amendments and reforms forspecial economic zones.
Sunil Rallan, CMD, J Matadee Free Trade Zone Pvt Ltd, proposed amendments on recalibration of the SEZ ruleon net foreign exchange earnings and change in the way duty is levied on goods manufactured in the zones for countries linked to FTA. He added that that the recent amendments proposed for will play a vital role in boosting investments in the manufacturing sector, greater employment generation and growth in export volumes. The potential of SEZs has been furthered by providing relaxation and simplifying the provisions for setting up of multisector SEZs.
He further added that foreign investors who wish to set up new manufacturing units will find the SEZs as attractive investment hubs with good infrastructure, while redefining last mile connectivity. Nearly one third of Indian exports are out of SEZs, which now have the potential to become a strong pillar of the Indian economy and allow integration of technology and businesses to tap and drive the growth potential of the country.
Author : Times of India