Business Daily from THE HINDU group of publications
Friday, Oct 27, 2006

Cross Currency

Group Sites

Industry & Economy - Infrastructure
`SEZs should promote manufacturing'

Our Bureau

Panel calls for proper safeguards

IN SUPPORT OF SEZS: (From left) The Minister of State for Industry, Mr Ashwini Kumar; the Chairman of the National Manufacturing Competitiveness Council (NMCC), Dr V. Krishnamurthy; the Advisor to Finance Minister, Dr Parthasarathy Shome; and Member-Secretary, NMCC, Mr V. Govindarajan; at the first meeting of the empowered sub-committee of the high-level committee on manufacturing in the Capital on Thursday. - Kamal Narang

New Delhi , Oct. 26

The Chairman of the National Manufacturing Competitiveness Council (NMCC), Mr V. Krishnamurthy, has urged adequate `safeguards' with regard to Special Economic Zones (SEZ) to ensure they promote manufacturing activity and are avenues for incremental growth.

"As a concept, SEZs are good since they provide infrastructure and common facilities for industrialists, who would otherwise have to scurry around for developed land. But there should be proper safeguards so that they are more manufacturing-oriented and are not being developed for other purposes," Mr Krishnamurthy told presspersons here on Thursday. He further emphasised that SEZs should facilitate `incremental growth' and not end up encouraging `industrial relocation'. He expressed satisfaction over the country experiencing a 11.8 per cent manufacturing growth during the first five months of the current fiscal.

"We are happy that many of our (NMCC's) specific recommendations relating to excise duties for man-made textiles and electronic hardware have already been incorporated in this year's Budget proposals. The outlook for domestic manufacturing in these sectors is much more bullish than earlier, when many players wanted to relocate to other countries," he said. Mr Krishnamurthy, who chaired the first meeting of the Empowered Sub-Committee of the High Level Committee for Manufacturing, said that the country could emerge as a global player in the manufacture of high-value advanced technology products (ATP).

"The share of ATPs in our manufacturing export basket is now minimal. A recent report has shown that the US imported $240 billion worth of ATPs in 2004, of which China and the East Asian nations supply 59 per cent, while we do not figure in the list. We have decided to constitute an Expert Group to evolve a strategy," he added.

More Stories on : Infrastructure | Economy

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
A new dawn beckons West Bengal

`Time for socio-economic reforms'
FDI: Will India edge out China?
10 pc growth possible: PM
Plea to develop industrial area in Mangalore
Spain team coming to Bangalore to explore biz avenues
Work on 12 port projects delayed
`SEZs should promote manufacturing'
IIFC, IL&FS sign pact
Move to revamp Kerala PSUs
Petrochem powers industrial growth
Gas policy likely to propose setting up of advisory body
Setback to ONGC's drilling plan
Major strides in steel
`Terrorism is the biggest threat'
Setting store by food processing
Aerospace engineers' convention
`Core values under pressure'
What they said
Attracting investments
Know-alls know so little
Invite trouble
Vision document aims to boost marine exports to $4 b
Kerala Govt to revise PWD manual
Jute baron's brother held for fake blood-kit supply

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line