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Home / India News / 2007 / May 2007 / May 29, 2007
SEZ are here to stay, says Kamal Nath
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Kamal Nath

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SEZ are here to stay, says Kamal Nath

Union Commerce Minister Kamal Nath today said the Centre was reviewing land buy policy for low-tax Special Economic Zones (SEZs) in view of widespread opposition.

Mumbai, May 29 : Union Commerce Minister Kamal Nath today said the Centre was reviewing land buy policy for low-tax Special Economic Zones (SEZs) in view of widespread opposition.

Nath, however, said the policy per se will remain, but there would be no compulsory acquisition of lands for SEZs.

"The Central Government has one clear thing on SEZs, that they are here to stay. There would be no compulsory land acquisition," Nath told reporters on the sidelines of an India-Gulf Cooperation Council meeting.

The government has faced protests from farmers and landowners over its plans to acquire land to develop hundreds of SEZs - large, tax-free industrial enclaves - around the country to boost exports and economic growth.

In West Bengal, 14 people were killed and more than 100 injured in March in protests against a proposed chemical hub in Nandigram.

On rupee's appreciation, Nath said it was a matter of concern, as it could spell doom for exporters and manufacturers as well.

"This is rational phenomenon that is happening and the government is aware of it and government is seized with the problem, that is all I can say," said Nath.

The partially convertible rupee has risen more than 9 percent this year on robust capital flows into Asia's third-largest economy.

ANI

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