Govt's investment region policy soon

The government is preparing a draft policy for special investment regions that would be spread over an area of hundreds of kilometres and offer investors all the infrastructure for setting up manufacturing units.

"The framework for the policy is ready. The draft will be completed and taken to the cabinet for approval," Minister of State for Industry Ashwani Kumar told newspersons in New Delhi.

The investment regions could get the same benefits as special economic zones, he said, adding that if the need arises, a separate legislation for them could be brought just on the lines of one for SEZ.

The Centre and state government would be the facilitators for setting up the investment regions spread over an area of hundreds of kilometres and match the ones in countries China.

State governments would facilitate the land acquisition and development of infrastructue and connectivity would be undertaken by both the centre and states.

The clearances would be arranged by the governments and for investors it would be a single window clearance.

The investment regions would be on the lines of one at Shenzen and Shanghai in China, Houston in US and Rotterdam in The Netherlands, he said.

The key difference between special investment regions and SEZs is that while in the latter the responsibility of developing infrastructure lies with private developers, in the former, the reponsibility would rest with the state and central governments.

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