The multi-national companies that take part in the Special Economic Zones are becoming real estate agents now, said HoD of Commerce of St Aloysius College Prof A M Narahari. Delivering the inaugural-cum-introductory speech for a symposium on ‘Economising Mangalore Zone- an introspection of SEZ’ organised by St Aloysius College department of Social Work here on Wednesday, he said that the idea behind a spend is to convert the barren lands to industrially fertile land, but this doesn’t happen very often.
He further elaborated on the concept of SEZs.
Professor of Economics in Aloysius Institute of Business Administration Prof Norbert Lobo spoke on the economic reforms in India and its relation with SEZs on the occasion. He elaborated on the financial crisis in 1991 and the consequential framing of the New Economic Policy by the then Prime Minister P V Narasimha Rao, Finance Minister Dr Manmohan Singh and Commerce Minister P Chidambaram, which brought about a series of changes in India’s economy.
A discussion on the topic by a six member panel including Social Activist Vidya Dinakar followed. Professor of Political Science Fr Francis Alveda was the mediator.