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The confederation of real estate developer’s associations of India (Credai) has said that Maharashtra’s new exit policy for special economic zones was bound to fail.
Lalit Kumar Jain, National President, wondered as to how an integrated industrial township policy would be successful where the SEZ concept to promote industries with a plethora of concessions had failed.
The new policy permits exit of developers from the special economic zones which have not taken off due to issues such as land acquisition or changes in concessions offered by the Centre.
“We have to realise that the so-called integrated industrial parks will not be successful if SEZ has failed even to take off, despite the concessions granted to them, leave alone achieving the desired results,” he said.
It is heartening to note that State Government is trying to give some incentives to generate higher employment. The new industrial policy is welcome in that sense. However, the policy on conversion of SEZ seems to be going nowhere. The Government needs to understand as to why and how the SEZs have failed, he said.
The State Government should, on its part, try to work out solutions to make SEZs viable and attractive, he said.
In an SEZ regime, industries enjoy benefits of both direct and indirect taxation. In such a scenario, it made little sense for developers to go in for the township plan, he added.
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