That’s right. If everything goes as planned, Andhra Pradesh will become the base for India’s first Coastal Economic Zone (CEZ). The first of its kind CEZ is all the more likely to come in one of the state’s prime coastal zones that spew heavy economic activity.
Visakhapatnam, Srikalahasti-Yerpedu, Machilipatnam, Donakonda and Krishnapatnam are some of the hot zones that are being considered for the upcoming CEZ in the country.
Coastal Economic Zone will also be the prime agenda of discussion in the upcoming meeting between Aravind Panagariya, Vice Chairman of NITI Aayog and CM Sri N Chandrababu Naidu. Panagariya will be visiting the CM at Amaravati today to hold elaborate discussions on the matter and take the required inputs while considering the proposal.
CEZs play a vital role in boosting the face of trade activity by the sea, setting the zone aside from the rest of India. CEZ is a sort of exclusive economic zone that is usually set up by the sea side, say sea zone that will used for exploration and use of available marine resources.
The CEZs will also enhance prospects in the manufacturing sectors pertaining to exports, utilities and electronics.
So far, India has two exclusive economic zones, one at Lakshadweep stretching to 1,641,514 km2 and Andaman and Nicobar Islands stretching upto 663,629 km2. This will be the first of its kind inland CEZ.