Boosting India's SEZs: A Blueprint for Expansion

The Indian government is considering relief measures to enhance production in Special Economic Zones (SEZs), potentially impacting domestic markets and import substitution. Commerce Minister Piyush Goyal discussed the initiative while touring Brandix textiles in Andhra Pradesh SEZ. Further meetings will explore quality infrastructure and legal amendments.

The Indian government is considering a package of relief measures aimed at boosting production in Special Economic Zones (SEZs). Piyush Goyal, the Commerce and Industry Minister, indicated that the ministry is evaluating strategies to promote existing capacities in SEZs for use within India's domestic market, a move that could serve as an import substitution.

During his visit to the Brandix textile unit in the Andhra Pradesh SEZ, Goyal expressed optimism that production output from SEZs will witness substantial growth. The minister highlighted ongoing efforts to assess additional relief options for SEZs, suggesting that upcoming developments could potentially involve legal amendments or regulatory adjustments.

In response to industry requests to permit the sale of SEZ-made goods in the domestic market, Goyal underscored that all proposals were under review. With SEZs currently contributing $176.6 billion to exports, stakeholders eagerly await further directions, anticipating improved infrastructural standards and policy frameworks.

(With inputs from agencies.)