The Hindu Business Line : Rs 10,000 crore investment likely in SEZ infrastructure

THE Government expects investment of Rs 10,000 crore in special economic zone (SEZ) infrastructure in the next three years. This was stated by the Commerce Secretary, Mr S.N. Menon, at the India Economic Summit 2005 here on Monday.

Mr Menon also said that the rules for the SEZ legislation are likely to be notified in the course of the next week or fortnight. "We have an SEZ Act in place, but we have not notified its coming into effect as the Government is in the process of finalising the rules," he said.

One of the issues yet to be resolved is the size of SEZs. The Government is looking at four sectors - software, biotechnology, handicraft and gems and jewellery — for categorising them as small SEZs.

"We are still having a debate on whether 10 hectares could be the minimum size for small SEZs (in the sectors of software, biotechnology, handicraft and gems and jewellery). We have not made a final decision. The main issue here is what should be considered as a small size," he said.

He said that the SEZ rules, when notified, would simplify the procedures for setting up of units in such zones. The issue of labour law flexibility at these zones would be discussed at the meeting of the Inter-State Trade Council.

So far the Centre has approved the setting up of 67 new SEZs (25 multi-product SEZs and 42 product specific SEZs). Eight functioning EPZs have already been converted into SEZs. Some of the major SEZs under implementation are Nokia at Sriperumbudur in Tamil Nadu, Reliance Energy at Ghaziabad in Uttar Pradesh, Wipro at Bangalore, Hyderabad, Pune, Chennai and Noida, Reliance Industries at Jamnagar, Biocon at Bangalore and port based SEZs at Mundra, Dahej in Gujarat and at Kochi.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

More Stories on : Events | Infrastructure

Stories in this Section
Finishing schools vital to make engg grads industry-ready

Jitters for Tamil Nadu as another storm brews

Small investors dogged by dud shares: Survey

TDSAT upholds leased line tariff order of regulator — Global bandwidth users in for bonanza

Rupee breaches 46-mark again

Airport upgrade: Left prefers `greenfield route'

Shipping stocks up on firm freight rates

Satyam on leadership training drive

FII-fuelled Sensex tips over 9,000 — Auto stocks in limelight

Rs 10,000 crore investment likely in SEZ infrastructure