Other States - Rajasthan   

New SEZ inaugurated

JAIPUR: In these difficult times of global economic meltdown and recession, captains of industry and the political leadership expressed cautious optimism about the prospects of industry and investment back home at the inauguration of a Special Economic Zone for light engineering and handicrafts in Mahindra World City near here on Saturday.

Compared to other countries, India was in a much better position, they asserted, pointing out that in fact the country should make use of the opportunity to get more business here.

“This is a good indication. We have been debating on the SEZs for quite some time in the past and I am happy that there are good examples like this one to talk about,” said Rajasthan Chief Minister Ashok Gehlot who inaugurated the new SEZ spread over an area of 250 acres along the Jaipur-Ajmer highway.

“The debate over the land use under SEZs led to certain amendments in the SEZ Act in the past. One should take care to protect farmers’ interest and avoid Singur-Nandigram like situations,” Mr. Gehlot suggested.

The event, also attended by Rajasthan Industries Minister Shanti Dhariwal, saw the signing of an agreement between State Bank of India and Mahindra World City, Jaipur. SBI deputy managing director Abhijeet Datta and Mahindra and Mahindra executive director Arun Nanda penned the agreement to establish the bank’s North India hub in the Domestic Tariff Area of the multi-product SEZ.

“The SEZ would help promote the unorganised handicrafts sector in Rajasthan. These are positive indications that investments are coming to Rajasthan,” Mr. Dhariwal said.

The light engineering and handicrafts SEZ forms part of the larger 3,000-acre Mahindra World City multi-product SEZ that has also IT, auto ancillary and logistics zones with an envisaged investment of Rs.10,000 crores. Mahindra World City is a joint venture between Mahindra Lifespace Developers Ltd. and the State-owned RIICO.

“We believe in India’s progress. That is why we are expanding in these times of global recession,” said Anand Mahindra, Vice-Chairman and Managing Director of Mahindra Group.

“Despite recession, Mahindra World City’s IT SEZ is progressing as per our expectations. We are confident of the light engineering and handicrafts too getting a similar response,” said RICCO and Mahindra World City chairman Sunil Arora.

“Our effort is to make Mahindra World City Jaipur the most successful SEZ in the country,” said Mr. Nanda, pointing out that this was the only operational SEZ in North India.

Mr. Nanda said the new SEZ had already got clients such as QH Talbros, Veto Electropowers, Om Metals, Marsons, Dynamic Engineering, Tijara Polyprep., Polymed, AL Paperhouse and Rustic Furniture.

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