Mumbai: The Industry ministry has proposed the setting up of manufacturing investment regions (MIRs) on the lines of petroleum and chemical product investment regions (PCPIRs) to give a boost to the manufacturing sector in the country.

>The proposal has been circulated among the relevant ministries, minister of state for industry, Ashwani Kumar, told reporters on the sidelines of the annual general meeting of Indian Chamber of Commerce (ICC) in Kolkata, adding that the cabinet was likely to give its approval.

>"It is fairly at an advanced stage," the minister said, adding that the MIRs would be set up on the manufacturing investment regions would be run by a board of management comprising representatives of the central and state governments and the anchor tenant.

>The minister said that these MIRs would typically require an area of 250sq km and would be developed around the existing industry clusters.

>He said the government has targeted a 12 per cent growth in manufacturing sector till 2010, adding that it would generate additional jobs to the extent of 16 million.

The government had earlier set the size of the proposed manufacturing investment regions (MIRs) at 100sq km, which has now been increased to 250sq km.

Each MIR could be twice as big as Chandigarh, which is about 110sq km. At present, there is no move to cap the number of MIRs.

Against the background of the crisis faced by special economic zones, the government proposes that states, not private companies, acquire land to set up these regions. After establishing the MIRs, states can invite the private sector to develop the zones and set up businesses.

The centre drew flak from the UPA allies on the SEZ policy, seen to be facilitating acquisition of land by private developers that would use it later for real estate needs. The policy also came under fire for not having provided an adequate rehabilitation package for people displaced by SEZ projects.

>

>