The global economic downturn notwithstanding, exports from India’s special economic zones (SEZs) are continuing to show robust growth. Units in SEZs are expected to post a 40% increase in exports to Rs 90,000 crore this fiscal, commerce secretary G K Pillai has said. Exports from SEZs in the next fiscal is likely to go up by more than half to Rs 1,45,000 crore in 2009-10, he added.
The global slowdown has, however, forced about 100 odd SEZ developers from across sectors with formal approval from the government to put on hold their investment plans<http://economictimes.indiatimes.com/articleshow/4271611.cms#>for about a year till things improve. "The new SEZs, where project implementation has not yet started or just begun, are wanting to wait for a while to be first sure of their anchor investors<http://economictimes.indiatimes.com/articleshow/4271611.cms#>. They want to wait for about six-twelve months. Projects which are more than two-thirds complete would, however, start operations soon," Mr Pillai told ET. The commerce department, which is over-all incharge of SEZs, expects about 120 SEZs to be operational by December-end as opposed to the present 87. India's overall export growth is expected to be lower than 10% this year at about $170 billion compared to $162 billion in 2007-08. B.Karthick Research Analyst WWW.KENCES1.BLOGSPOT.COM <http://www.kences1.blogspot.com/> --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
