India's commerce department launches SEZ review to update rules
Big changes might be coming to India's Special Economic Zones (SEZs).
The Department of Commerce just kicked off a major review, bringing together more than 100 industry voices to talk about how SEZs can work better for everyone.
The main goal? Make it easier for businesses to operate and invest in these zones by updating old rules.
Industry pushes SEZ reforms, rupee payments
Industry groups want SEZ units to sell more goods in India without extra customs duties, and they're pushing for payments in Indian rupees instead of foreign currency, especially helpful for technology and engineering sectors.
Other ideas include letting SEZs team up with local companies on projects, merging similar government schemes, and turning Free Trade Warehousing Zones into logistics hubs.
The committee promised to seriously consider all suggestions before making recommendations to the government.