Trusts to now set up units in Special Economic Zones, impacting large on investment, job and growth

News Bharati    28-Jun-2019
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New Delhi, June 28: A bill that seeks to allow trusts to set up units in special economic zones by amending the SEZ law was approved by Parliament on Friday, with the government asserting that these zones were an engine of growth and employment.
 
The Rajya Sabha gave its nod by a voice vote immediately a day after the lower house passed the Special Economic
Zones (Amendment) Bill, 2019.
  
 
"This is a small amendment that will have a large impact on investment, job and growth", said Commerce Minister Piyush Goyal while addressing the delegates in the parliament house.
 
The Bill will replace the Special Economic Zones (Amendment) Ordinance, 2019, which was promulgated in March. The ordinance had paved the way for trusts to set up units in these zones.