Andhra Pradesh   

‘SEZs to garner Rs. 3 lakh cr. investments’

Special Correspondent

 

Big league: Former RBI Governor M. Narasimhan, handing over the first copy of the book ‘SEZs -International Experience and Indian Scenario’ to GK Pillai , Union Commerce Secretary in Hyderabad on Thursday . In the centre are authors V.K. Srinivasan and P. S. Sundaram .

HYDERABAD: Defending the Government’s decision to promote special economic zones, Union Commerce Secretary G.K. Pillai has asserted that the initiatives launched in the SEZ will enable investments to the tune of Rs. 3 lakh core and employment to six lakh workers in the next couple of years.

Over 1.14 lakh jobs have been created and an investment of Rs. 67,000 crore flowed in the last two years since the Government initiated efforts to promote SEZs. Indirectly referring to the criticism over the allocation of vast tracts of land to SEZs, he described India as a “noisy democracy” and “we have to live with this noise” while promoting policies that were aimed at the larger public good.

Moreover, the rules framed for SEZs were so stringent that the land cannot be misused by the promoters, he said challenging the critics to prove a single instance of misuse in all the notified SEZs.

Mr. Pillai was speaking at a meeting organised in connection with the release of the book “SEZs – International Experience and Indian Scenario” co-authored by veteran civil servant V.K.Srinivasan and senior journalist P.S. Sundaram here on Thursday. Reserve Bank of India former Governor M. Narasimham, who released the book, hoped that the “dispassionate work” that touched various aspects of SEZs would help clear the air on some of the controversies. Chief Secretary J. Harinarayan said that the Government was concerned that despite quick steps, it was not finding many units getting into production.