Saturday

02


February , 2019
SEZ Amendments Rule 2018 puts future of small ports in quandary
13:00 pm

B.E. Bureau


The Special Economic Zones (Amendment) Rules, 2018 has been announced by Ministry of Commerce & Industry (department of Commerce) Notification vide G.S.R.909 dated September 19, 2018.

Developers of small ports are constrained to state that these amendments are going to have a devastating effect on them as well as the existing units in SEZs as many of them will not be in compliance of these new rules. Developers feel that the amended rules are not only going against the SEZ Act, but are also going against the GST Act and the Foreign Trade Policy besides nullifying the gains from the Prime Minister’s Make in India and Ease of Doing Business initiatives. The Baba Kalyani committee report must be obtained expeditiously and fresh stakeholder consultations must be held before a final decision is taken.

In the meantime, developers want to keep these amendments in abeyance and conduct a detailed enquiry into the subject and support the industry which is largely helping the nation’s economy.

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