If SEEPZ is an inspiring SEZ success story of sustainable development, other SEZs across Maharashtra are proving to be engines of economic growth in true sense.
SEEPZ Special Economic Zone(SEZ) just got bigger recently.This month the SEZ in the heart of the country's commercial capital, Mumbai is adding a new six-storey building in its sprawling 111-acre premises. The building, with a total built up area of over 80,000 sq ft, is exclusively designed for gem and jewellery and electronics manufacturing.
After five years, SEEPZ, one of the country's oldest special zones, is expanding again. The new building in the SEZ, which had been flooded with proposals to set up new units for a long time, can accommodate 24 units, which will be allotted soon.
SEEPZ, which houses units from gem and Jewellery - making up about 80 per cent of the zone's total turnover - IT and electronics, biotechnology and services sectors, has always had full occupancy. Besides, the past few years have seen a growing demand from the industry for more space at SEEPZ. In fact, the bullish sentiment at SEEPZ runs contrary to the mood in many SEZs across the country. Quite a few SEZs have had no takers, while promoters of some of these zones have surrendered them for waning demand.
"SEEPZ has always had an advantage of its location, hardly 5 km from Mumbai international airport's cargo complex and 30 km from the bustling port. Besides, it offers a unique combination of urban infrastructure, skilled labour and vast talent pool. Naturally, there has been a big demand for setting up units in SEEPZ," notes N P S Monga, the development commissioner (DC) of SEEPZ, who is in charge of all SEZs in Maharashtra, Goa, Diu and Daman.
Dramatic changes
This story is from the April 2017 edition of India Business Journal.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 2017 edition of India Business Journal.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Top Crisis
Short-term, consumer-centric measures have left the tomato, onion and potato farmers struggling to eke out a living.
Boon Or Bane?
With some adequate safeguards, the government's e-assessment scheme can be a win-win situation for both tax department and taxpayers.
Revisiting Development
Sustainable development is the way forward for India, which is in the midst of an economic downturn, ecological crises and stark human distress.
The Cabotage Debate
Relaxation of Cabotage rules has pitted foreign shipping lines against domestic shipping companies.
Catch-22
India finds itself in an unenviable position, as it weighs the pros and cons of joining RCEP.
Accept Mistakes Quickly
Anto Binish Kaspar is a firm believer in technology.
We Will Have 30 Franchisees By 2020
Naresh Sharma , CEO , Skora paints
The Revival Conundrum
Along with a patchwork of band-aids, a smart combination of monetary and fiscal measures can get the ailing economy back into the pink of health.
Mahatma Gandhi @150
The Mahatma firmly advocated that this world has enough for everyone's need but not greed. Gandhian economics, no wonder, cannot be more relevant today in times of erratic economic development, jobless growth and adverse climate changes.
Bitterness Lingers
A hike in subsidy does little to boost exports, thanks to a glut in the global market, and leaves sugar prices subdued in the domestic market.