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Piyush Goyal: Nearly Rs 200 cr Worth Expenditure For Rebuilding And Refurbishing Seepz

Nearly Rs 50 cr will be spent to build common services centre facilities and approximately Rs 200 cr worth expenditure will be undertaken for rebuilding and refurbishing Speez, said Goyal.

Piyush Goyal: Nearly Rs 200 cr Worth Expenditure For Rebuilding And Refurbishing Seepz
SHARES

India’s oldest export-headed area in Andheri (East), Seepz is set to receive an expenditure worth Rs 200 cr on its renovation and rebuilding by the Centre, reported the Times of India.

In addition to this, Rs 50 cr will be utilized for the creation of a common service centre. Piyush Goyal the Union Minister for Commerce and Industry spoke at a meeting that included export promotion councils, export development authorities and commodity boards, wherein he stated that area will be made at Seepz to hold additional units.

He elaborated that, new places in Seepz will be built for new units and to move current units to new locations. Nearly Rs 50 cr will be spent to build common services centre facilities and approximately Rs 200 cr worth expenditure will be undertaken for rebuilding and refurbishing Speez, he said.

The Santacruz Electronic Export Processing Zone (Seepz) was made on May 1, 1973, as a uni-product export processing zone only for the produce and export of electronic items. The government in 1987-88 allowed the said activities to be conducted for gem and jewellery items. In November 2000, Seepz became one of the three export processing zones which were changed into a special economic zone.

Seepz Gems and Jewellery Manufacturing Association, president, Rajiv Pandya, according to the report, elaborated on the space constraints units faced which inhibited them from expanding due to policy restrictions that also didn’t permit space transfer. Because of policy restrictions, when one unit moves out, another wanting to take over the space cannot do so, such limitations will be done away with by the government, he said.

He also spoke about the seasonal sales of jewellery which results in them seeking work during sluggish periods. This won’t just help them keep labour, but also stay competitive. Problems of high premiums have also been voiced, he said. He believes that the common facility centre will assist smaller units.

On the other hand, Gem and Jewellery Export Promotion Council, chairman, Colin Shah spoke about the government’s promise on an e-commerce policy in its Foreign Trade Policy in October.  

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