Investments in Special Economic Zones are expected to cross Rs 3 lakh crore in the next four to five years, from the current $18 billion (Rs 73,000 crore), said L B Singhal, director-general, Export Promotion Council for EoUs and SEZs.

Speaking to Business Standard on the sidelines of the ground breaking ceremony of the Chennai-based Sri City's SEZ in Tada, in Andhra Pradesh, last week, Singhal said SEZs in the country have so far generated over 300,000 jobs, adding once all the 462 zones start functioning, they are expected to create 4 million jobs.

Chief Minister Y S Rajasekhara Reddy, who had inaugurated the project, said the manufacturing industry has tremendous opportunity and it would provide employment opportunities to the unskilled and semi-skilled people in the backward districts.

In the last two years, 462 SEZs have been approved. Of these, 222 have been notified which have achieved export of over $15 billion.