52% of the notified SEZ land vacant says Commerce ministry

Image of SeZBy Accommodation Times Bureau

The Minister of State for Commerce and Industry, C R Chaudhary in a written reply to the Rajya Sabha today said that at present 52 percent of the notified special economic zones (SEZ) land is vacant in the country.

The minister provided statistic by stating that, out of 423 zones approved after the SEZ Act, 2005 came into force, 357 have been notified and presently 221 are operational.

Chaudhary said, “Out of the 357 notified SEZs, 136 are non-operational.”

There are many reasons for the delay in starting of commercial operations of SEZs and that includes time taken in getting approvals from statutory/state government bodies, the minister said.

A¬†special economic zone¬†(SEZ) is an area in which business and trade laws are different from rest of the country. SEZs are located within a country’s national borders, and their aims include increased trade, increased investment, job creation and effective administration.

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