Union Commerce Minister Nirmala Sitharaman has said that a meeting with all stakeholders will be held next week in Delhi to look at the changes that need to be made to the new Companies Act. Emphasising on the need to review the Act, the minister also said that it is time to take all measures necessary to bring back investor confidence.
the minister said that the new Companies Act, 2013 which had replaced the old Companies Act, 1956 had “posed a lot of problems” to companies, chartered accountants and industries.
The Commerce Ministry will also review the special economic zone (SEZ) policies and the Foreign Trade Agreements (FTAs) to boost investments and improve employment opportunities, Nirmala Sitharaman said adding that the Prime Minister Narendra Modi is meeting officials in Delhi to address the problems related to SEZs.Regarding the FTAs, she said, “There have been mixed reactions for FTAs. We have leveraged FTAs lesser than the other sides.” A report on this is expected to be submitted by the Commerce Department in a fortnight, which will be reviewed by the Ministry.