Government of India approved 48 Special Economic Zones (SEZs) for the State of Andhra Pradesh (AP) and Chief Minister Y S Rajasekhara Reddy was convinced of creating 4.70 lakh new jobs, besides boosting exports.
There are already 27 SEZs for Apparel, Textile, Gems and Jewellery, 3 for Footwear IT/ITEs, 6 for Pharma, 4 for multi-product, and one each for Biotech, Building Products, Services Sector, Paper and Semiconductor.
New SEZs will be launched for future economic growth, employment generation and technology transfer.
Foreign Direct Investments will lead to a cycle of higher investments, income generation and savings capacity, further investment that will finally escort to further economic growth.
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