On Saturday , Commerce Secretary Sunil Barthwal said that The government is working on reforms in the Special Economic Zone (SEZ) domain so that movement of goods between domestic tariff area (DTA) and SEZ space is carried out smoothly without affecting the competitiveness of goods in the export markets.
There were many Vacant spaces as Work from home intiative was going on in the SEZ areas due to pandemic at that time 2 years ago.this had led to the demarcation of SEZs into SEZ and DTA spaces Barthwal said.
Barthwal stated that the target of achieving USD two trillion exports by 2030 is possible and USD one trillion will be forthcoming from merchandise exports and another USD one trillion from services.
Services seems impelpable , but there is a huge opportunity to grow. We should look at the barriers which are preventing the growth of the services sector, he said adding that , with external trade becoming an important part of the growth engine, both the industrial and foreign trade policies are now intertlinked.
Ink free trade agreements by different countries with India are becoming popular due to its aspect of ‘give and take’ policy in bilateral & multilateral trades.If one has to take something, he also has to give something, he said.
It’s never going to be an easy path for SEZ reforms…
Developed nations like UK and US , both are raising their standards by taking actions on sanitary and phytosanitary issues in imported goods.’We will have to adhere to these standards which are becoming increasingly difficult”, he said.
“Our FTP(Foreign Trade Policy)has been designed for exporters to take advantage of the global value chain. The industry, which had always sought protection in the past, will now have to integrate with the global value chain and look at where the competitive advantage lay”, he added.
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