March 5, 2018 4:29 PM

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Govt to constitute group for changes in SEZ policy

<div><br />''</div>''<div>The government will constitute a group to suggest necessary changes in the policy for Special Economic Zone (SEZs).&nbsp;</div>''<div><br />''</div>''<div>The SEZs are export hubs and contribute significantly to the country's total outbound shipments.&nbsp;</div>''<div><br />''</div>''<div>In a written reply to a question in the Lok Sabha, Commerce and Industry Minister Suresh Prabhu said, the developers and units of these zones enjoy certain fiscal and non-fiscal incentives like no requirement of licence for import and no routine examination by customs authorities of export and import cargo.&nbsp;</div>''<div><br />''</div>''<div>He said, they also enjoy direct and indirect tax benefits.</div>''<div><br />''</div>''<div>In a separate reply, the Minister also said that to address concerns of rubber sector, the government has decided to constitute a task force on the commodity for finding out short term solutions and formulating long term strategies to tackle the problems.&nbsp;</div>''<div><br />''</div>''<div>The members of the task force include representatives of state and central government. He said, the effort will be to work towards a rubber policy in consultation with state governments.&nbsp;</div>''<div><br />''</div>''<div>A stakeholders meeting was held last month to discuss several issues pertaining to the natural rubber sector.</div>

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