December 02, 2008

SEZ may get infrastructure projects status

Mr Kamal Nath union commerce and industry minister said that special economic zones should be treated as infrastructure projects for investment requirements. He added that his ministry would pursue with the Reserve Bank of India the case for treating special economic zones as infrastructure projects.

It may be recalled that RBI had equated special economic zones with real estate to caution banks against their unsecured exposures to these export enclaves.

Mr Nath said that, once all the 366 formally approved special economic zones became operational, 4 million additional jobs would be created and India’s manufacturing sector would get a shot in the arm.