CM wants incentives to SEZ to continue

Chief minister K Rosaiah has urged Prime Minister Manmohan Singh to continue all the fiscal incentives originally envisaged for the special economic zones (SEZs) and the units therein even after introduction of the Direct Tax Code (DTC).

“I earnestly request that in the larger interest of industrial development in the country, that the central government may kindly continue all the fiscal incentives originally envisaged for the SEZs,” Rosaiah stated in his speech pointing out there were apprehensions that the incentives would be discontinued with the introduction of DTC.

In this context, he also said that the state was promoting a number of SEZs for creation of employment opportunities to youngsters.

The written speech of the chief minister was read out by state major industries minister, K Lakshminarayana, at the foundation stone laying ceremony of the NTPC-BHEL power equipment manufacturing project at Mannavaram in Chittoor district on Wednesday. Rosaiah could not attend the function due to ill health.

According to Rosaiah, the Nellore-Chittoor region is going to be a major hub for investments. It is ideally positioned with close connectivity to three international airports (Bangalore, Chennai and upcoming Tirupati) and three important seaports (Krishnapatnam, Chennai and Ennore) besides being close to the Golden Quadrilateral Expressway.

He said a large number of mega power projects were coming up in the area, which had been identified as the Manufacturing Investment Region according to the policy of the Union government.

Stating that AP was well positioned to emerge as the manufacturing hub in the country, Rosaiah informed the Prime Minister that a Global Investors Meet was scheduled to be held in the state capital in February 2011 in association with the Confederation of Indian Industry to attract large-scale investments from across the globe.