By IANS
New Delhi : As many as 54 of 60 projects notified under the agri export zone (AEZ) scheme have failed to log desired levels of investments and exports, resulting in a 50 percent shortfall in targets, says a leading industry chamber.
Because of the poor performance of 54 AEZs in the past six years, exports from the 60 projects have been Rs.53.16 billion ($1.25 billion) against a target of Rs.118.21 billion, the Associated Chamber of Commerce and Industry (Assocham) said.
“These AEZs could attract only Rs.8.2 billion as investment as against the envisaged investment limit of Rs.17.18 billion,” it added.
The chamber, which conducted an independent study on the subject, said the government had received 34 additional applications for AEZs, over and above the already notified, but they have been awaiting clearance for two years.
The chamber said that there were some good performers among the AEZs. The AEZ in Karnataka for gherkins, onion, flowers and vanilla registered exports of Rs.11.38 billion against a target of Rs.6.19 billion.
Even in terms of investment, the AEZ there saw Rs.914 million pumped into the project as on Jan 31 against the envisaged figure of Rs.522 million.
Similarly, the Maharahstra AEZ for grapes, wine, mangoes, flowers, pomegranates, onions, bananas and oranges had envisaged exports of up to Rs.6.01 billion but managed to realise Rs.10.51 billion.
On the other hand, the orange AEZ in Madhya Pradesh, which covers Chhindwara, Betul and Hoshangabad, and to which vegetables were added at a later date, managed to attract the desired level of investments but with nil exports.
The AEZs for organic pineapples in Tripura, mangoes in Tamil Nadu, flowers in Sikkim and basmati rice in Uttar Pradesh, have also failed to register exports with low level of investment, the study said.