Enacted in 2005, the SEZ Act has now completed 20 years. The scheme has largely fulfilled its promise of attracting investments, boosting exports, generating foreign exchange and creating jobs, but much of its potential remains untapped.

With the changing global dynamics, the Prime Minister has stressed reforms to build a “Self-Reliant India”. Currently, about 20,000 hectares of developed land and nearly 100 million sq.ft. of built-up space in SEZs remain unutilised — a clear opportunity loss. Integrating SEZs more closely with the domestic economy, aligning them with industrial corridors scheme, and PLI schemes is crucial to unlock growth. This will give much needed boost to “Made-in-India” initiative, “Vocal for Local” call and “Ease of Doing Business in India”.

SEZs’ contribution

The

See Full Page