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Textile SEZs going out of favour

28
Dec '09
The changed global economic scenario is giving second thoughts to textile and apparel companies who were planning to set up shop in Special Economic Zones (SEZs). For these enterprises, it is more fruitful to book space in dedicated textile or apparel parks. In a SEZ, it is mandatory to export, while in the textile and apparel parks one has the option to deliver to both the markets, domestic and overseas.

Recently, two apparel SEZs, one in Surat and the other in Ahmedabad had applied for de-notification of SEZ status, since they were finding it difficult to lure apparel manufacturers and exporters considering the slowdown in exports, since the last one year. A slew of textile SEZs had been announced across India in the boom period before the economic turmoil broke out, to cash in from exports of textiles and apparels.

In recent days, two textile parks have begun operations in Gujarat. Vraj Integrated Textile Park Ltd (VITPL), at an estimated cost of Rs 1.2 billion by the Chiripal Group near Ahmedabad and Surat Super Yarn Park Ltd, the Rs 1.07 billion project of the Nakoda Group. Both have been set up under the Union Textile Ministry sponsored, Scheme for Integrated Textile Parks (SITP).

Fibre2fashion News Desk - India


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