Halt on 23 SEZs cost state likely investment worth Rs18,444 crore | mumbai | Hindustan Times
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Halt on 23 SEZs cost state likely investment worth Rs18,444 crore

mumbai Updated: Mar 18, 2015 01:06 IST
Sayli Udas Mankikar
Sayli Udas Mankikar
Hindustan Times

The withdrawal and denotification of 23 special economic zones (SEZs) has caused a loss of investment potential worth Rs18,444 crore, the economic survey for 2014-15 has pointed out. This has also caused a loss of potential employment for 4.68 lakh people.

Since 2006, when the SEZ policy came into effect, the state has received 236 proposals, approved 124 projects, notified 66 and has executed just 24 projects. The state saw an investment of Rs18,786 crore on the 24 functioning SEZs, which generated employment for 1.31 lakh people. Pune has the maximum number of investments with 14 projects, followed by five in Konkan. Pune, too, lost out on nine projects because of denotification and withdrawal of projects.

The facts came out at a time when industries minister Subhash Desai said they are reconsidering the entire SEZ policy, and that no new SEZ will be allotted considering that past experience “not-so-positive experiences”.

He said the problems faced in acquiring land, protests from locals and the autonomy granted to the SEZ owners have forced the government to reconsider the scheme.

On the other hand, in case of projects implemented by the Maharashtra Industrial Development Corporation (MIDC) in the IT sector, of the 494 private IT parks, 29 developers withdrew their proposals because of the international recession.

In all, Maharashtra has seen 8,376 projects commissioned, which will bring in an investment of Rs2,54,784 crore from August 1991 to October 2014, and an estimated employment for 10.95 lakh people.