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8 THE DOLLAR BUSINESS II AUGUST 2016
Volume: 3 Issue: 08 August 2016
www.thedollarbusiness.com
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COVER STORY 22
Special Economic Zones (SEZs) came into existence in 2005. The idea was to enhance exports and earn ‘precious’ foreign exchange. And they were doing it all until sometime back. So, what suddenly happened that the name SEZ is not sufficient anymore to realise the country’s export ambitions? Do we, as a country, need go back to the drawing board and re-design the entire SEZ policy? The Dollar Business investigates the reasons for the downward spiral and looks for ways and means to revive these special ‘export’ zones.
President (VMPL) : Steven Philip Warner& Editor-in-Chief
EDITORIAL & RESEARCHEditor : Manish K. PandeyExecutive Editor : Indranil DasAssociate Editor (Print) : Andres M. MolierAssociate Editor (Online) : Sheela MamidennaSenior Editors (Print) : Niladri S. Nath, Proyashi BaruaSr. Assistant Editor (Print) : Sisir Kumar PradhanAssistant Editors (Print) : Neha Dewan, Ahmad Shariq Khan, Sairaj IyerAssistant Editors (Online) : N. Sharath Chowdary, Aamir Hussain KakiPrincipal Correspondent : Deepak KumarCorrespondents : Pooja Jain, Sania Ashraf
EDITORIAL CONSULTING BOARDFounder & Editor : Anil GoyalPublisher : Avnish GoyalChief Consulting Editor : Dr. A. K. SenguptaEditorial Advisors : Dr. N.K. Goyal (CMAI), Atul Kumar Saxena (IIA)
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© Copyright 2016No part of this magazine may be reproduced in whole or in part without an ex-pressed permission of the publisher. The information on this magazine is for information purpose only. Manish K. Pandey, Editor, The Dollar Business, is re-sponsible for the selection of news and content under PRB Act. Vimbri Media Pvt. Ltd. assumes no liability or responsibility for any inaccurate, delayed or incomplete information, or for any actions taken in reliance thereon. The information contained about each individual, event or organisation has been provided by such individual, event organisers or organisation without verification by us. All disputes are subject to exclusive jurisdiction of competent courts and forums in Hyderabad, Telangana.Printed and published by Avnish Goyal for Vimbri Media Pvt. Ltd. Published at 5-2-198/4, Distillery Road, Ranigunj, Secunderabad - 500 003, Telangana.
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INDIA’SSEZs:TIME TO STOP THEIR COLLAPSE
AUGUST 2016 II THE DOLLAR BUSINESS 9
INBOX LETTERS TO THE EDITORReaders’ feedback, criticism, and appreciation that hit our mailboxes in July 2016
MONOLOGUE PEOPLE SPEAKFrom Theresa May on Brexit to Narendra Modi on India’s business interest in South Africa and more...
GLOBAL TRADE The US-China trade war, World Bank on Malaysia’s SME growth, Namibia’s beef exports to US, IMF’s grant to Iraq & much more...
INDIA TRADE India’s improved LPI ranking, and its triumph over China in pharma exports, the Mozambique pigeon peas deal & much more...
SPOTLIGHTGUATEMALAThe country is attracting FDI and showing promise in global trade
SECRET INGREDIENTBABY GARMENTSThere are opportunities galore for Indian kidswear exporters
GLOBAL CORPORATIONINTEX TECHNOLOGIESCMD Narendra Bansal shares his plans for growth & diversification
IMPORT’ONOMICSETHYLENE GLYCOLLow production and high demand means importing it is the only option
POLICY MONITOREPCES Executive Director D. K. Sareen
reveals the council’s future plans
POLICY FOCUSSTATE TRADING ENTERPRISESPost-liberalisation are STEs relevant in the Indian context?
EXCLUSIVE COLUMNIMPACT OF BREXIT Ajay Sahai, DG & CEO of FIEO, on the impact of Brexit on Indian trade
NEXGEN NEWAMAKERHI-TECHROBOTIC SYSTEMZAnuj Kapuria, Founder-CEO, on the future of hi-tech manufacturing
TDB FORUMQuestions about foreign trade that hit our mail box in July 2016
DATEBOOKSome must visit trade shows
DOCKYARD GUJARAT PIPAVAV PORT This port has shown promise after APM Terminals took over. And with expansion plans in place, there seems an even better future
H.E. GEORGES DE LA ROCHEAMBASSADOR OF GUATEMALA TO INDIAOn the need to strengthen bilateral trade ties
DR. RAMAN SINGHCHIEF MINISTER OF CHHATTISGARHTalks about factors that make Chhattisgarh an ideal investment destination and what the state is doing to to create an enabling environment for businesses
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CRESENCIANO G. MARAMOTMD, SGS INDIA & SRI LANKAReveals strategies that have helped his company stay ahead of competition, across the globe
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22 THE DOLLAR BUSINESS II AUGUST 2016
COVER STORY SPECIAL ECONOMIC ZONES (SEZs)
WHAT AILS INDIA'SMANUFACTURINGHOT SPOTS?
AUGUST 2016 II THE DOLLAR BUSINESS 23
BY SISIR PRADHAN
Special Economic Zones (SEZs) came into being a decade back with extravagant praise. The 'big idea' was to enhance exports and earn precious foreign exchange. Considering that an SEZ was completely exempted from income tax, these zones were successful in achieving their mandate, even clocking a stellar exports growth of 121% in FY2011. But that's where the good news ends. Today, we are faced with a pertinent question. Is the modern day SEZ policy encouraging enough to help India realise its export ambitions? Or is there a need for an overhaul in the rules that guide, control and dictate the functioning of SEZs? The Dollar Business investigates reasons for the unhappy state of affairs of these special 'export' zones and if revival is a possibility.
Aerial view of the amphithe-ater at eVolve – The GenNxt IT Park in IT SEZ, Mahindra
World City, Jaipur. Developers have build
infrastructure in huge tracts of land but in the present con-dition are finding it difficult to
attract exporting units.
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