Muhammad Yunus says SEZ policy sustainable

NEW DELHI: Even as the farmers protest against special economic zone (SEZ) proposals in the country, Nobel Laureate and Chief Architect of Grameen Bank and the main micro-financing body in Bangladesh, Muhammad Yunus said on Tuesday that Indian SEZ policy is sustainable in the long term.

"SEZ policy is definitely sustainable for India. There is a limit to development which agriculture can achieve. For a jump in growth, industrialisation is necessary. You have to make a choice between agriculture and industrialisation," Prof Yunus said on the sidelines of a conference.

The question is on which land these projects are being set up, he said, adding the protests led by farmers will fade away if they are convinced that their 'barren land' will be put to productive use.

"The first step to win their favour is to make them evacuate the barren land with decency and respect by giving adequate compensation," Prof Yunus added.

Since its inception, the policy to allow companies to set up SEZs in the country has been under fire from different bodies, creating doubts about its success.

Salim Group SEZ project in Nandigram village in East Midnapore district of West Bengal is being opposed by the farmers.

Trinamool Congress chief Mamata Banerjee, who appeared before the public on Monday for the first time a month after she ended her fast over Singur, announced her support for the Nandigram villagers.