Services may get SEZ status

KOLKATA: Union commerce minister Arun Jaitley today hinted at extension of special economic zone (SEZ) status to the services sector as well.
“We are keen on accommodating services sector in SEZs. But modalities have to be worked out before doing that. We have asked the state governments to give us suggestions on formation of such SEZs,� Mr Jaitley, while inaugurating Manikanchan, the Rs 25-crore gems and jewellery park developed by West Bengal Industrial Development Corporation (WBIDC) here, said.
Manikanchan has already been awarded SEZ status by the Centre.
On the other hand, the strengthening of rupee against dollar has become a cause of concern for the export community. More so as the appreciation of rupee is adversely affecting the country’s export growth, Mr Jaitley said.
Talking to newspersons here today, Mr Jaitley, however, admitted of some positive signs that may boost the country’s exports. “Recovery of the US economy in the third quarter would definitely be a boon for the nation’s exporters,� he added.
The export growth rate in the first half (April-September) of the current financial year was around 10%. “Despite several problems, India had been able to achieve export growth rate of 18% in the last financial year. This year’s target has been set at 12%,� Mr Jaitley said.