The union cabinet last week approved the promulgation of an ordinance for an amendment to the Special Economic Zone (SEZ) Act, 2005. The provision will permit 'trusts' to set up units in SEZs.
The government said that the amendment would also provide flexibility to the central government to include 'trusts' in the definition of a 'person', any entity that the central government may notify from time to time.
CNBC-TV18's special show The Real Deal dives deep into India's thrust on SEZs to ask a basic question. Will these small or minimal changes make any big impact on India's SEZ which is largely believed to be a big policy flop or does the government need to bite the bullet and overhaul the entire policy in a big way?