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New Delhi
Leaders of the Indian industry welcomed the government's move Thursday to lift a freeze on approving new special economic zones (SEZ) and clear 83 pending proposals.

The Confederation of Indian Industry (CII) said in a statement that it "supports the concept of SEZs and hopes that the decision to put an end to compulsory land acquisition by state governments and limiting the size of SEZs will end the ambiguity about the future of SEZs".

"The state industrial development corporations may now use land already earmarked for industrial purposes for creation of these SEZs," it added.

Underlining that SEZs are here to stay, The Federation of Indian Chambers of Commerce and Industry (FICCI) said "SEZs have an important role in today's competitive environment."

It also said the decision taken by the government Thursday will clear all the ambiguities regarding SEZs.

The Associated Chambers of Commerce and Industry (ASSOCHAM) lauded the government's decision to restrict the size of the SEZs to 5,000 hectares, as it would help in settling recent controversies regarding land acquisition SEZs.

"The clearance of the proposals to set up SEZs with a limit on multi-product zones at 5,000 hectares and the discretion to the states to lower the size below this limit will give flexibility," said FICCI.  

IANS | April 5, 2007

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