After SEZs, govt plans to set up SER

By agencies   |   Thursday, 11 May 2006, 07:00 Hrs
Printer Print Email Email
NEW DELHI: The government is planning to develop Special Economic Regions, which could include Special Economic Zones or industrial parks, in a bid to attract investments into the country, a top government official said.

The main difference between SERs and SEZs would be that the state and central government would develop the necessary infrastructure in the regions where private companies can then set up units, Ajay Dua, Secretary in the Department of Industrial Policy and Promotion, said here after releasing a study on SEZs by industry chamber Assocham.

The proposal was at a conceptual stage but the plan is to set up five-six such regions in the country, he said, adding the government was looking at whether it would require a separate law or a policy resolution would suffice.

The logic of setting up such regions was that the government alone couldn’t attract the huge investment required in various sectors to sustain a high economic growth, he said.

These regions may not be greenfield areas and could be brownfield areas. The regions could include SEZs, technology parks and other such zones for rapid economic expansion.

Asked about the concerns of Ministry of IT and Communications on software companies switching over to SEZs in view of tax incentives, he said it was unlikely that Software Technology Parks would get the same status as SEZs.

Dua also said that concerns regarding land prices shooting up due to numerous SEZs coming up were not misplaced and the government was aware of it.

In its study, Assocham said these zones would increase FDI inflows but wanted labor laws to be relaxed, besides other facilities such as infrastructure.

GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..