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Developers call off SEZs

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Commerce Secretary, Mr. G K Pillai said to the www.propertykhazana.com that, “SEZs are ready to depart in different means, even with the first complications. Till now India had permitted 513 SEZs in which 250 had been reported. Inputs are likely to cross Rs. 2 Lakh Crores by December 2009 and carry additional employment to 8 Lakh people.”
As per the available source with the www.propertykhazana.com, approx Rs. 81,000 Crores have been invested in SEZs, providing employment to 3, 50,000 people. SEZs had created about Rs. 600 Crores in exports, 92% leap from last year and India’s total exports through the span rise to 23% to USD 155.5 Billion. About Rs. 16,000 Crores of inputs in SEZs had been proclaimed by different firms and majorly Ansal Properties & Infrastructure Ltd. is having around Rs. 3,600 Crores for IT SEZs in three states. Infrastructure Leasing & Financial Services has joined hands with Maharashtra Industrial Development Corp (MIDC) to pour in Rs. 8,000 Crores in SEZs in the state. Nationalized trading firm – MMTC Ltd. has called out bids to develop SEZs in different segments.
Tata Real estate & Infrastructure has tied up with the Tamil Nadu Govt. and has promised to invest about Rs. 3,000 Crores to construct an IT SEZ. Mr. Rajiv Jalota, Chief Executive Officer of MIDC said to www.propertykhazana.com that, “The benefits and incomes distant prevail over the issues implicated.” MIDC is developing 22 SEZs in Maharashtra and has faced hostility to property acquirement in the state and has already developed a devoted cell to pay off and restore relocated landlords. Goa has cancelled the idea to construct SEZs after objection from political and environmental groups. In 2007, it enforced farmland acquirement in Nandigram forced brutal protests leading to deaths in West Bengal. From then, compulsory property acquirements has been banned.
Source: NBTVLIVE

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