Govt. open to reviewing SEZ Act, says Nath

New Delhi (PTI): Facing flak from Opposition as well as supporting Left parties on the SEZ issue, the government on Tuesday said it is open to reviewing the law governing the special economic zones.

The Government also ruled out FDI in retail sector, an area which has come under sharp criticism from traders and parties across the political spectrum.

Allaying apprehensions expressed by members during a discussion in the Rajya Sabha on working of his Ministry, Commerce and Industry Minister Kamal Nath said, "we will review the SEZ Act if we find it requires revision."

He said only 80 to 90 SEZs have become operational and once the figure reached the 100-mark, the Government would carry out a detailed review to find out whether the law has been misused.

The debate saw Opposition members questioning the "reckless" approval of tax-free zones, with BJP alleging that most of the land "was being grabbed by land sharks to set up hotels and malls in the name of SEZs".

On the impact of FDI in retail on small traders, Nath said, "we cannot have anything which rocks the boat of existing employment."