Bill on SEZs to be tabled soon

New Delhi, March 28 | Updated: Mar 29 2005, 05:30am hrs
Commerce and industry minister Kamal Nath has said that legislation for setting up special economic zones have been put in place, and would be presented in Parliament. He also said that the foreign trade policy has been postponed by 10 days to allow adequate time for availability of inputs.

Inaugurating the two-day India infrastructure summit 2005, organised by Federation of Indian Chambers of Commerce and Industry (Ficci) and department of industrial policy and promotion (ministry of commerce) here on Monday, Mr Nath said that infrastructure development would play a key role in maintaining the upward swing in Indias current growth rate of 8%.

He called upon the domestic industry to form collaborations for implementing infrastructure projects. He also said that infrastructure development is a problem in India, as well as an advantage because while maintaining them requires capital, the other aspect is that infrastructure development can only project India as an economic power. It is not possible to fund infrastructure projects fully through government resources. This is where the facility of viability gap funding has been introduced. It can be in various forms and a mix of capital and revenue support is possible, he said.