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The government has initiated work on the new legislation for Special Economic Zones (SEZs) proposed in the Union Budget by appointing an independent legal think-tank to do the initial research.
Vidhi Centre for Legal Policy, a not-for-profit company, will undertake legal research on the SEZ Act, including a review of international best practices, and provide legislative assistance for drafting a new SEZ Act, according to a statement issued by the Export Promotion Council for EOUs and SEZs (EPCES).
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The Budget focusses on holistic development of the economy and will help address several challenges posed by the pandemicAn MoU on carrying out the research work was signed between Vidhi Centre for Legal Policy and EPCES on Friday. Finance Minister Nirmala Sitharaman announced in her Budget speech that the Special Economic Zones Act will be replaced with a new legislation that will enable the Ssates to become partners in ‘Development of Enterprise and Service Hubs’. This will cover all large existing and new industrial enclaves to optimally utilise available infrastructure and enhance competitiveness of exports, she said.
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