• search
For Quick Alerts
For Daily Alerts

Govt gives more time to 7 SEZs to implement projects


New Delhi, Aug 26 The government has given more time to seven SEZ developers and units including Kerala State IT Infrastructure and Telangana State Industrial Infrastructure Corporation to execute their projects.


The decision was taken by the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia in its meeting on August 12.

The BoA is a 19-member inter-ministerial body that deals with SEZ-related matters. It provides single window clearance mechanism to developers and units in these zones.

The board has granted one more year to Kerala State IT Infrastructure, which is setting up IT/ITeS SEZ in the state.

"The board after deliberations extended the validity till September 18, 2017," the minutes of the BoA meeting said. Telangana State Industrial Infrastructure Corporation has planned IT/ITeS special economic zone in Andhra Pradesh.

For this project, the BoA after deliberations "condoned the delay and extended the validity of the formal approval up to July 1, 2018," it said.

SEZs are exports hubs, which contribute about 16 per cent to the country's total outbound shipments. The Commerce Ministry is taking steps to revive investors' interest in these zones.

It has asked the Finance Ministry to extend sops like rollback or reduction in the minimum alternate tax. Exports from special economic zones (SEZs) logged a marginal growth of 0.77 per cent at Rs 4.67 lakh crore in 2015-16.

The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15. Highest number of SEZs are operational in states like Tamil Nadu, Karnataka, Telangana and Maharashtra.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more