A Paradigm Shift SEZ Sector Shows Green Shoots
The recent policy initiatives of the government to boost the sagging interest of developers in special economic zones (SEZs) have started showing green shoots of a resounding revival. In a changed scenario, the developers who have put their SEZ projects either on the backburner or seeking de-notification, are currently busy in reworking their SEZ strategies and the trend is that the board of approval is not just receiving applications for setting up new SEZs but existing players are also applying for change of status to put their multi-product SEZ projects back on the developmental track. In fact, the SEZ sector has taken the revival route only after the reversal of over-all country's economic scenario including strong showing by the core sector, factory output, IIP production, exports and imports and also the implementation of 99 stalled infra projects worth Rs.3.5 lakh crore by the CCI. The import compression not just helped containing trade deficit and curtailing the current account deficit to $56 billion but also inflated foreign exchange reserve to $25bn and this in its entirety resulted in restoring the investors' confidence in the country's SEZ projects. Reports Jeet Singh.
