SEZs to create more than 3 lakh jobs

New Delhi: Special economic zones (SEZs) are continuing to attract huge investments and are creating jobs throughout the country, says the commerce ministry. SEZs have attracted investments worth $13 billion and have created one lakh new jobs since SEZ rules were notified in February previous year.

These figures have been collected by the commerce department over a period of 21 months between February 16, 2006 and November 30, 2007.

According to commerce ministry estimates, the number of new jobs will go up to 3 lakh and the investment will treble. Commerce secretary GK Pillai said that investments have been flowing into SEZs as anticipated.

“By next year end, total investments in SEZs may touch $40 billion. Creation of new jobs is also expected to increase three times to 3 lakh,” he said.

Subsequent to the approval of SEZ rules last year, a total of 404 proposals for setting up SEZs have been formally cleared, of which 172 zones have been notified. As many as 50 SEZs have started operations. There are 165 proposals that have received in-principle clearance.