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Shri Kamal Nath, Union Minister of Commerce and Industry, will chair the Meeting of the Parliamentary Consultative Committee of the Ministry of Commerce and Industry, to discuss the proposed Special Economic Zone (SEZ) legislation here tomorrow.
SEZs are intended to serve the following objectives: Generating additional economic activity; Promoting exports of goods and services; Attracting investment from domestic and foreign sources; and Developing world-class infrastructure facilities within the SEZs.
The significance of the role and effectiveness of the SEZs in promoting aggregate economic activity in the country can be gauged from the fact that, exports from SEZs worldwide during 2000 were US $ 850 billion, nearly 15 % of the total world export. According to the International Labour Organisation (ILO), such Zones have created 37 million jobs worldwide in the year 2000; and have been very successful in attracting Foreign Direct Investment (FDI) (for instance, China and Dubai).
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