+
Investors concerned over delay in DESH Bill for SEZs
Real Estate

Investors concerned over delay in DESH Bill for SEZs

Global institutional investors and developers of Special Economic Zones (SEZs) are getting increasingly concerned over the delay in implementation of the Development of Enterprises and Services Hub Bill, 2022 (DESH Bill) and are seeking to expedite its execution.

The DESH Bill, aimed at helping generate more employment and revenue, apart from preventing migration of key business functions to other countries including China and the Philippines, was introduced in the Union Budget this year, but has not been implemented yet.

Institutional investors with exposure to SEZs and realty developers have held multiple meetings with the Central government, especially the Ministry of Commerce and Industry, in this regard, and made presentations to allay the ministry’s apprehensions over revenue loss.

The DESH Bill or amendments to SEZ rules will allow domestic-oriented businesses to operate from these economic hubs. Lack of clarity on final implementation of the bill has delayed effective developments in SEZs, leading to gross under-utilisation of space.

“A paradigm shift in the way business is conducted for the service units is required, which can come from implementation of recommendations of the Baba Kalyani Committee constituted for the SEZ review. Modifications such as co-existence of export oriented and domestic business units within common premises will be a definitive game changer for India,” said Sigrid Zialcita, chief executive officer, Asia Pacific Real Assets Association (APREA).

See also:
Delays lead to cost overruns of Rs 4.58 trillion in 380 infra projects
Australian parliament passes Free Trade Agreement with India


Global institutional investors and developers of Special Economic Zones (SEZs) are getting increasingly concerned over the delay in implementation of the Development of Enterprises and Services Hub Bill, 2022 (DESH Bill) and are seeking to expedite its execution. The DESH Bill, aimed at helping generate more employment and revenue, apart from preventing migration of key business functions to other countries including China and the Philippines, was introduced in the Union Budget this year, but has not been implemented yet. Institutional investors with exposure to SEZs and realty developers have held multiple meetings with the Central government, especially the Ministry of Commerce and Industry, in this regard, and made presentations to allay the ministry’s apprehensions over revenue loss. The DESH Bill or amendments to SEZ rules will allow domestic-oriented businesses to operate from these economic hubs. Lack of clarity on final implementation of the bill has delayed effective developments in SEZs, leading to gross under-utilisation of space. “A paradigm shift in the way business is conducted for the service units is required, which can come from implementation of recommendations of the Baba Kalyani Committee constituted for the SEZ review. Modifications such as co-existence of export oriented and domestic business units within common premises will be a definitive game changer for India,” said Sigrid Zialcita, chief executive officer, Asia Pacific Real Assets Association (APREA). See also: Delays lead to cost overruns of Rs 4.58 trillion in 380 infra projectsAustralian parliament passes Free Trade Agreement with India

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code