The Development of Enterprise and Service Hubs can achieve self-reliance and boost exports of the country. Do you agree with this statement? Comment (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 2 years
KEY POINTS
· In the Budget 2022-23, the Finance Minister had proposed the replacement of the SEZ law with a new legislation — Development of Enterprise and Service Hubs (DESH).
· The primary objective of DESH is to create an export promotion ecosystem, aligning trade policy framework with the WTO rules, inculcating the spirit and enthusiasm among entrepreneurs, ensuring greater transparency.
· A few sectors such as IT & IT enabled services, gem and jewellery, pharma have benefited under the SEZ Act but they failed in facilitating a large scale economic transformation vital for a country like India.
· The DESH draft is historic as it brings in scale, scope, system, and synergy in India’s manufacturing operations achieving the twin objectives of import-substitution as well as achieving export excellence.
· It also underlines the importance of addressing the existing tug of war on revenue matters (Minimum Alternate Tax, Dividend Distribution Tax among others).
· Considering this, the DESH Bill must identify the sectors of opportunities for global trade which are engineering, electronic and electrical automobiles pharmaceuticals and plastics.
· The DESH Bill should work on twin-objectives of substituting imports and stimulating exports.
· It should also offer a better enabling environment (ease in entry and exit, single window, fiscal and non-fiscal incentives).
· India’s policymakers can offer more than the bench-marks of similar incentives in ASEAN countries where many units are relocating under China-plus-One strategy.
PANDI SANTHOSH RAJA S 2 years
Kindly review
IAS Parliament 2 years
Good answer. Keep Writing.
K. V. A 2 years
Pls review
IAS Parliament 2 years
Try to mention about flaws in SEZ. Keep Writing.
