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BoA de-notifies Yavatmal textile SEZ
10
Jun '11
The Maharashtra Industries Development Corporation (MIDC), which does not find special economic zones (SEZ) to be luring propositions anymore, has obtained permission to de-notify the textile SEZ proposed to be set up at Yavatmal.

The MIDC's proposal to cancel the SEZ status granted to the Yavatmal region has now been approved by the Union Commerce Ministry's Board of Approvals (BoA).

It was hoped that the textile SEZ would benefit the region's crisis hit cotton cultivators. It was claimed that the farmers would have gained better bargaining capacity due to the presence of textile units in the cotton cultivation area itself. However, MIDC's decision has now greatly distressed these farmers.

The de-notification proposal would get a final sanction only after the Development Commissioner certifies that MIDC has refunded all the benefits that it had obtained under the SEZ Act.

As the MIDC had proposed to jointly develop the concerned SEZ in association with a private partner, it had acquired 208 hectares of land for the purpose and had even invited offers from private firms for partnering the project.

Maharashtra Chief Minister Prithviraj Chavan had earlier assured that a cotton-textile processing zone would be developed at Yavatmal to intensify cotton sowing in the region.

Fibre2fashion News Desk - India

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