Financial Daily from THE HINDU group of publications
Monday, Jan 24, 2005
Financial Daily from THE HINDU group of publications Monday, Jan 24, 2005 |
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Industry & Economy
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Infrastructure 2 Kinfra parks get SEZ tag Our Bureau
Thiruvananthapuram , Jan. 23 THE industrial of parks of the Kerala Industrial Infrastructure Development Corporation (Kinfra) in Kochi and Malappuram have been accorded the status of special economic zones (SEZs). The status has been given to 30 acres of land at Kinfra's high-tech park for electronics industries at Kalamassery, Kochi, and to 30 acres in the food-processing park at Kakkancherry in Malappuram district. According to Kinfra officials, the decisions to the effect were taken at the discussions the Managing Director, Dr G.C, Gopalapillai, had with the top officials of the Union Commerce Ministry in Delhi on January 20. At the Kalamassery park, Kinfra is developing infrastructure of international standards to set up high-tech electronics industries. The SEZ status would help increase the yearly export of products from here by 30 to 40 per cent, the officials said. The investors in the park will be eligible for various tax and duty concessions and there will be no need for a special licence for imports. They will get full exemption from excise and customs duties and a five-year exemption from income tax. There is a possibility for 100 per cent foreign direct investments in the park, they said. At the food-processing park in Malappuram, the SEZstatus will pave the way for the establishment of a host of industries specialising in the export of the State's ethnic foods. The officials noted that a major share of Kerala's total export earnings is being accounted for by the food-processing sector. As per 2001-02 estimates, the State's total export earnings during the year were to the tune of Rs 7,038 crore, of which Rs 4,992 crore was contributed by the food-processing sector. Kinfra will make available infrastructure of international standards and the latest technology in food processing in the new SEZ. This is expected to increase exports from the park by around 20 per cent, the officials said. Kinfra has so far established 16 industrial parks across the State and these include the International Apparel Park and the Film and Video Park in Thiruvananthapuram and the Export Promotion Industrial Park in Kochi. These apart, it has set up integrated infrastructure development centres to cater to the small-scale industries sector.
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