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SEZs to bring overall development

Mar '07
Setting up of SEZs is expected to bring overall development. The main objectives of SEZ Act, 2005 are generation of additional economic activity, promotion of exports of goods and services, attracting investment from foreign and domestic sources, generation of employment opportunities and development of infrastructure facilities, Shri Ashwani Kumar, Minister of State for Industry said while giving a written reply to a question raised in the Rajya Sabha.

The SEZ Act, 2005 and SEZ Rules 2006 have been operationalised only from February, 2006. There is no small scale sector specific SEZ policy. The question of review of SEZ policy with reference to the small scale sector does not arise.

While replying a question raised by Shri V. Hanumantha Rao in the Rajya Sabha, the Minister also denied any proposal by the Government to allow 75% FDI in retail in the SEZs.

Meanwhile, the study on impact of organised retail in unorganised retail including small retailers and vendors has been entrusted to the Indian Council for Research on International Economic Relations (ICRIER).

ICRIER has been asked inter-alia, to assess the impact of FDI in the retail sector with reference to its impact on small retailers and vendors in the unorganized sector, employment, consumers, farmers and manufacturers, prices and on overall economic growth, he added while replying to another question.

Press Information Bureau

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