Baba Kalyani Heads Group to Study SEZ Policy

The Government of India has formed a group of to study the Special Economic Zones (SEZ) Policy of India. The group will be headed by Baba Kalyani and it will submit its report in three months

Responsibilities

The group will

Evaluate the SEZ policy
Suggest measures to cater to the needs of exporters
Make the SEZ policy WTO compatible
Suggest course correction in SEZ policy
Make a comparative analysis of the SEZ scheme and
Link the SEZ policy with other similar schemes.

Members of the group

Chairman: Shri Baba Kalyani, Chairman, Bharat Forge
Ravindra Sannareddy
Neel Raheja
Arun Misra
Anita Arjundas
Ajay Pandey
Srikanth Badiga,
Principal Secretaries (Industries) of Gujarat, Maharashtra, Telangana, Andhra Pradesh, Tamil Nadu & Karnataka
Additional Secretary (In-charge of SEZ Division, Department of Commerce)
Director (SEZ), Department of Commerce
Coordinating Officer

SEZ Policy

The Policy was first implemented from April 1, 2000 with an aim to enhance foreign investment and provide an internationally competitive and hassle free environment for exports.
The Special Economic Zones Act, 2005 was passed by Parliament in 2005 and the Special Economic Zone Act was enacted. The Act provides the umbrella legal framework, covering all important legal and regulatory aspects of SEZ development as well as for units operating in SEZs.

What is a Special Economic Zone?

A special economic zone (SEZ) is an area in which business and trade laws are different from the rest of the country.
Their aims include

increased trade
increased investment
job creation and effective administration.

SEZs located in India

At present, there are eight functional SEZs in India

Santa Cruz (Maharashtra)

Cochin (Kerala)
Kandla and Surat (Gujarat)
Chennai (Tamil Nadu)
Visakhapatnam (Andhra Pradesh)
Falta (West Bengal)
Noida (Uttar Pradesh)
Indore (Madhya Pradesh)

Expected Questions

The Government of India has formed a group of to study the Special Economic Zones (SEZ) Policy of India. The group will be headed by

a. Baba Kalyani

b. Baba Rupani

c. Baba Tasmani

d. Baba Salmani

e. None

Which of the following is not a Special Economic Zone in India?

a. Noida

b. Bengaluru

c. Kandla

d. Cochin

e. Indore