Govt to review FTAs with countries, SEZs

Written by Press Trust of India | Chennai | Updated: Jun 15 2014, 06:03am hrs
The Centre is studying SEZs and all foreign trade agreements with other nations to analyse the benefits they have given to the economy, commerce minister Nirmala Sitharaman said on Saturday.

"I have instructed my ministry officials to look at FTAs and decide on whether they are useful or not and decide on changes... I have also instructed them to undertake a complete review of SEZs and why they have not worked. We are going to rework SEZs," she said.

The minister also said traders and stakeholders have raised concerns about certain provisions in the new Companies Act. "Next Saturday in Delhi, we are holding a consultation with all stakeholders to look into the provisions."

On the row triggered by IBs report on NGOs, she said, "It is a report generated by the last government. BJP has not initiated this. We will check the authenticity of this report and look into the issue." The report noted that the funding of several NGOs was "cleverly disguised" as donations for issues like human rights and instead used to fund protests to stall developmental projects. Sitharaman was in the city to meet delegates of trade bodies such as CII, ahead of the Budget.