Ever since the promulgation of SEZ act by government, there has been turmoil in the industrial corridors of country. Every one wants to feast on the tax benefits offered by government.
In quest for excellence, the students of Post Graduate Diploma in Industrial Engineering (PGDIE) at NITIE, Mumbai, organized Samiksha, a Panel Discussion, on 24th February, 2007. The theme of the discussion was “SEZs: Fuelling India Inc. Growth”. The event was graced by eminent personalities from various industries and concerned government departments. The event served as an excellent forum for the students to learn from the rich experience of the industry experts.
The experts who shared their vast experiences were :
• Mr. C.S. Gokhale, President (Corporate Development), Reliance Industries Ltd.

• Mr. Madan Sabnavis, Chief Economist, NCDEX

• Mr. P.S. Raman, Deputy Development Commissioner, SEEPZ, Mumbai

• Ms. S. Gayathri, Associate Director (Tax & Reg. Services), KPMG

• Mr. S. Rohira, Manager (Tax & Reg. Services), PricewaterhouseCoopers

• Mr. Arun Giri, Business Reporter, CNBC TV 18 (Media moderator)

Prof. Ashok K. Pundir, Convener Samiksha, said that “such events attune the students to become more responsive and focused on the dynamic nature of industry requirements”. During the presentations round, Mr. Suresh Rohira, Manager (Tax & Reg. Services), PricewaterhouseCoopers detailed about the recent developments and updates on Special Economic Zones, giving relevant figures and ample examples.

His views were carried forward by Mr. C.S. Gokhale, President (Corporate Development), Reliance Industries Ltd. who advocated the existence of SEZs and said, “Yes, SEZs are in troubled waters, but should we not learn to fish in those”. He delved into historical background and quoted Ding’s philosophy of treating SEZs as laboratory of carrying an experiment of state capitalism at a least social cost.

National Institute of Industrial Engineering, Mumbai SAMIKSHA Later on Mr. P.S. Raman, Deputy Development Commissioner, SEEPZ, Mumbai interpreted the various legal frameworks devised by government for SEZs Mr. Raman facilitated a detailed insight into the statutory provisions for SEZs in India and supported the existence of SEZs by expressing that “unless there is an investment for industrialization, there can’t be any development”.

Giving a new dimension to the discussion, Mr. Madan Sabnavis, Chief Economist, NCDEX questioned the whole purpose of SEZs and highlighted the risks associated with overdependence on export oriented economy. He also came up with a few alternative solutions to smoothen the implementation of SEZs in our country to ensure the progress of every strata of society.

Uncovering another facet of the discussion, Ms. S. Gayathri, Associate Director (Tax & Reg. Services), KPMG dwelt upon the importance of harnessing the hidden potential in Offshore Banking and International Financial Service Centers in line to SEZs.

The presentations were followed by the panel discussion, which was moderated by Mr. Arun Giri, Business Reporter, CNBC TV 18, who enlivened the discussion with his judicious remarks and inquisitive attitude and created a perfect setting for a logical deliberation on such a burning topic. After the discussion, there was a consensus among the panelists that SEZs are still in the evolution stage and the best we can do is to plug the loopholes as and when they are discovered.