FTAs, SEZ Norms Set to be Reviewed

Published: 15th June 2014 08:51 AM  |   Last Updated: 15th June 2014 08:51 AM   |  A+A-

CHENNAI: The Centre is studying all Free Trade Agreements (FTAs) with other countries, the rules and regulations related to Special Economic Zones (SEZs) and the Companies Act to analyse their benefits, said Commerce and Industry Minister Nirmala Seetharaman.

Addressing her maiden press conference here after she was accorded a rousing reception after becoming part of the Union Cabinet, the BJP leader described the measures taken by her ministry to boost the investment climate and improve investor sentiment.

“I have instructed the officials in the ministry to review all FTAs individually as to whether they are useful or not and decide on changes to make them more beneficial. I have also instructed officials to do a complete review of SEZs and why they have not worked. We are going to review and rework SEZs,” she informed.

Responding to a query on the government’s stand on FDI in multi-brand retail sector, she said, “FDI in multi-brand retail is not welcome at the moment.”

In response to a question on an Intelligence Bureau report that said funds to some NGOs were mostly used to fuel protests against developmental projects, she said the authenticity of the report, which was generated by the UPA government will have to be looked into. She also reassured that the government was constructively working for a long term solution to the fishermen issue.

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