Investment worth of Rs.100,000 crores is expected to flow in the 128 notified SEZs by December 2007 and export proceeds from operational SEZs is likely to reach Rs.67,000 crores by end of current fiscal, disclosed Joint Secretary, Incharge of SEZs in the Ministry of Commerce & Industry, Mr. Anil Mukim.
Inaugurating ASSOCHAM organised Conference on `New SEZ Policy : Creating Islands of Economic Excellence' Mr. Mukim said that in operational SEZs, 90 sectors were represented whose exports would accelerate, showing an increase of 100% by March 31, 2008 mainly constitute IT & ITEs, engineering, heavy engineering, automobiles, gems & jewellery, textiles, chemicals/petrochemicals, bio-technology.
The operational SEZs are located in 21 states such as Himachal Pradesh, Uttaranchal, Madhya Pradesh, Maharashtra, Jharkhand, Chattisgarh, Gujarat, Karanataka, Andhra, Tamil Nadu and the like.
The government has so far formally approved 340 SEZs for which 41,000 hectares of land has been acquired and in these islands of wealth creation, tax concessions such as income-tax and other taxation related benefits would be available so that economic activities accelerate and country's exports received a filip, said the Joint Secretary.
Of the projected 1 lakh crore of investments $ 7 billion investment would come in the form of FDI's and create employment opportunities for thousands of skilled and non-skilled workfroce, said Mr. Mukim adding that in next 5 years, the total investment amount that is expected to come in the SEZs would be to the extent of 300,000 crores which would have FDI's element of nearly $ 60 billion.
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