Centre clears 12 mega zones SWEDISH RETAIL CHAIN SEEKS NOD FOR FDI

New Delhi, April 29: The government has so far given in-principal approval for setting up of 12 National Investment and Manufacturing Zones (NIMZs), mega industrial zones with world class supporting infrastructure, Parliament was informed on Monday.

“So far eight NIMZs have been announced along the Delhi-Mumbai Industrial Corridor (DMIC) in the states of Gujarat, Maharashtra, Haryana, Uttar Pradesh, Rajasthan and Madhya Pradesh.

“Four other NIMZs outside the DMIC have also been granted ‘in-principle’ approval — two in Andhra Pradesh and one each in Karnataka and Maharashtra,” minister of state for commerce and industry D. Purandeswari said. The minister said that the government has taken a number of steps to accelerate the manufacturing growth of the country.

“The measures taken recently include announcement of the National Manufacturing Policy (NMP) 2011 with objectives of increasing the share of manufacturing in GDP to 25 per cent and creating 100 million additional jobs over a decade,” she added. The NMP envisages setting up of NIMZs, which are industrial townships, benchmarked to the best manufacturing hubs in the world.

In reply to another question, the minister said that the government has set up a committee under the chairmanship of RBI executive director RBI G. Padmanabhan for suggesting steps to provide additional facilities to the exporters in the country. — PTI New Delhi, April 29: FIPB on Monday cleared two FDI proposals worth `89.33 crore while referring the `2,650 crore proposal of Yes Bank for consideration of Cabinet Committee on Economic Affairs (CCEA).

FDI proposals of up to `1,200 crore are cleared by Foreign Investment Promotion Board (FIPB), while investments over `1,200 crore are considered by CCEA.

The proposals cleared include Mauritius-based WCP Holdings III plan to acquire shares of National Stock Exchange (NSE). The proposal entails investment of `88.87 crore. — PTI