Date:08/01/2005 URL: http://www.thehindubusinessline.com/2005/01/08/stories/2005010800370700.htm

Back Govt ready for SEZs in pvt sector: PHDCCI

Our Bureau

New Delhi , Jan. 7

PHDCCI on Friday said that the Government has decided to permit setting up of special economic zones (SEZs) in the private and joint sectors and by the State Governments.

In a meeting with select group of PHDCCI members, Mr S.N. Menon, Commerce Secretary, said that the minimum size decided for the SEZ shall not be less than 1,000 hectares for multi-product SEZs, the chamber said in a statement.

Mr Menon clarified that the minimum area requirement, however, would not apply to product-specific SEZs like IT, it added.

The Central Government proposes to bring out the Special Economic Zone Act shortly.

Meanwhile, PHDCCI President Mr K.N. Memani urged the Commerce Secretary to enhance the funds allocated under the Assistance to States for Infrastructural Development for Exports (ASIDE) Scheme.

He added that a more focused approach was required to attract greater FDI into the country, especially of the type that is export-oriented.