Commerce Minister Seetharaman to review Companies Act, SEZ & FTA laws.

Union Commerce Minister Nirmala Seetharaman will hold a meeting with all the stakeholders on June 21 to review the Companies Act rules and regulations related to Special Economic Zones (SEZs) and Free Trade Agreements (FTAs). The consultation will focus on smoothening the difficulties related to these two areas that stakeholders face and will lead to actions necessary to regain confidence of investors.

The Commerce Ministry officials have been instructed to extract information on law constraints applicable to SEZs and Seetharaman will review all the policies, tax issues and legalities related to SEZs to see how they can be more effective.

In the next 15 days, the ministry officials would also submit a complete analysis report on FTAs to her. FTAs signed by India and various countries have not been implemented in many cases and the Commerce Minister would like to review them.

Seetharaman clears that she does not mean to go back on the decisions of the previous UPA government. The new Modi government is merely focused on promoting investment and job creation.

Nirmala Seetharaman will also mean salt produces in Tamil Nadu to increase salt production in the state and will also check out whether food processing units can be set up in the state.

She also hopes for an inspiring Budget 2014 that can send out all the right signals to promote growth and business.

Source : prepsure.com