Special Economic Zones will bring 5 lakh jobs

The rush for setting up special economic zones has spawned a huge demand for manpower to establish and run them.

Conservative estimates suggest that 3,000-4,000 management-level jobs will have to be filled in the coming months.

However, headhunters and companies are finding it difficult to appoint people to even top slots like chief executive officer and executive vice-president, though salaries are not an issue, with a CEO well in a position to ask and get $250,000 (Rs 1.15 crore) a year without eyebrows being raised.

Considering the immediate need for smooth land acquisition and master plan approvals before actual construction starts, officers of the Indian Administrative Services are the most sought after.

In some cases, IAS officers are offering their services for CEO and other high-level positions.

"They are willing to use their experience and network of batch mates for five-year contracts," a recruiter said.

Sources said a leading industrial conglomerate, a real estate developer, a construction and allied services company, and an infrastructure consultant were already in the process of roping in IAS officers.

Vipen Kapur, worldwide executive-chairman of Singapore-headquartered Maxima Global Executive Search, said: "There is a huge dearth of talent as there is nobody in India with experience of the scale and complexity required in SEZs. Companies have no option but to hire from overseas from China for instance, which has many large SEZs."

Kapur added that a couple of companies had approached them to scout for talent, but backed off as the salary expectations were more than what they were willing to pay.

CEOs of some of the existing zones are also being poached upon. B G Menon, who was heading the Mahindra SEZ in Tamil Nadu, is learnt to have been roped in by Marg Constructions to head their proposed SEZ.

Commerce Minister Kamal Nath has pegged the overall employment opportunity arising out of SEZs at 5 lakh direct jobs and a million indirect jobs.

That may well be a stretch target given the current experience of some employers. With over 150 zones approved and many more in the pipeline, there is a huge demand-supply mismatch on this front.