95 more SEZs to come up in next three years

New Delhi, July 26: A total of 95 more special economic zones (SEZs) are expected to come up across the country, commerce and industry minister Kamal Nath said today.

At present 28 SEZs are operational. Of them, seven are in Tamil Nadu, five in Gujurat, three each in West Bengal and Andhra Pradesh, two each in Maharashtra, Rajasthan and Karnataka, and one each in Uttar Pradesh, Kerala, Madhya Pradesh and Punjab.

The minister said 95 approved SEZs are in the pipeline. Their developers are expected to take effective steps to implement the projects within three years from the date of approval, he told the Rajya Sabha during question hour.

The major incentives offered to units in SEZs to promote exports include duty-free import and domestic procurement of goods, exemption from central sales tax on supplies made from domestic tariff area, exemption from service tax and 100 per cent income tax exemption on export income for first five years, 50 per cent for next five years and 50 per cent of ploughed back profits for next five years.

UNI