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FDIs get the go ahead into SEZ
19 Jan '06
1 min read
Minister of Commerce Kamal Nath, said here today that Special Export Zone (SEZ) Act passed in Parliament recently, would attract more Foreign Direct Investment (FDI) into India.
A strong interest has been generated for product specific SEZs like IT, gems and jewellery, textiles, and about 25 existing SEZs would come under the purview of this Act.
Kamal Nath said, about 70 new product-specific SEZs would come up. He further added that, approximately Rs 10 to 20,000 crores may be invested in various sectors after notification of this Act.
We have also to keep in mind the interest of domestic retail industry, which is mostly in the unorganized sector, as we invite FDIs into these sectors, Nath added.
Nath said FDI in airport modernization is pending with the cabinet.
A strong interest has been generated for product specific SEZs like IT, gems and jewellery, textiles, and about 25 existing SEZs would come under the purview of this Act.
Kamal Nath said, about 70 new product-specific SEZs would come up. He further added that, approximately Rs 10 to 20,000 crores may be invested in various sectors after notification of this Act.
We have also to keep in mind the interest of domestic retail industry, which is mostly in the unorganized sector, as we invite FDIs into these sectors, Nath added.
Nath said FDI in airport modernization is pending with the cabinet.
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