Government to Review Foreign Trade Agreements, Special Economic Zones: Commerce Minister

The Centre is studying special economic zones (SEZs) in the country and all foreign trade agreements with other nations to analyse the benefits they have given to the Indian economy, Commerce and Industry Minister Nirmala Sitharaman has said.

"I have instructed my ministry officials to look at all FTAs and decide individually on whether they are useful or not and decide on changes... 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 told reporters in Chennai on Saturday.

Traders and stakeholders have raised concerns about certain provisions in the new Companies Act, she said.

"Next Saturday in Delhi, we are holding a consultation with all stakeholders to look into the provisions."

On government's stand on FDI in retail, she said, "Our stand on the issue is clear. FDI in multi-brand retail is not welcome at the moment."

On the controversy triggered by the recent IB report on NGOs, she said, "It is a report generated by previous government. BJP has not initiated this. We will check authenticity of this report and look into the issue."

The report noted that funding of several NGOs was "cleverly disguised" as donations for issues like human rights and instead used for funding protests to stall developmental projects.

About the fishermen issue with Sri Lanka and recent arrests made by its navy, she said, "We are  constructively working for a long term solution to the issue."

On ceasefire violations by Pakistan, Ms Sitharaman said, "Defence Minister Jaitley is in Jammu and Kashmir today (Saturday) to see and assess the situation. Defence Minister and Ministry of External Affairs are working together to ensure sovereignty and safety of our country is not compromised."

To a query on the nature of the Union Budget, which is expected in July, she said, "It will be a very inspiring budget. A budget that will give a message for sentiments to be revived, a budget that will send the right signals and for growth and business to improve."

Ms Sitharaman was in the city to meet delegates of trade bodies like Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) and others, ahead of the budget.

Ms Sitharaman would also meet workers from salt pans to know how the industry can be improved further, even as Tamil Nadu stands second only next to Gujarat in terms of salt production, number of workers involved and salt production per acre.

"I will also explore possibilities and ways to improve food processing sector in Tamil Nadu," she said.

On power shortage factor affecting manufacturing activities, she said, "We are putting all our efforts and giving top priority to the energy sector; Power Minister Piyush Goel is putting all efforts to resolve crisis in Tamil Nadu and Delhi and whether it is thermal, hydro or solar power...we will come up with a resolution soon."

To a query on the constitution of Cauvery Management Board (CMB) as directed by the Cauvery Water Tribunal, she said, "BJP's attitude towards water has not changed. We are dealing with the issue in the same way (former Prime Minister) Vajpayee did, by intervening on his own to resolve crisis. We will take a positive view and arrive at a solution that will be in everyone's interests."

Asked about Union Chemicals and Fertiliser Minister Ananth Kumar's comment on CMB, she said, "Minister concerned knows best about this issue. We are taking a positive attitude towards this."

Ananth Kumar had recently said the Centre has no proposal to constitute the CMB, which Tamil Nadu is pressing for but is being opposed by Karnataka.