Government gives more time to 115 special economic zone developers for executing projects

NEW DELHI: The government said it has granted more time to as many as 115 special economic zone developers to execute their projects during April 2012 and November 2013.

Replying to a question in the Lok Sabha, Minister of State for Commerce and Industry E M Sudarsana Natchiappan said developers have sought extension of validity period stating reasons like adverse business climate due to global; recession, delay in approvals from statutory/state government bodies, delay in environmental clearance, lack of demand for space in SEZs and changed fiscal incentive regime.

"After deliberations and taking into account the facts and circumstances of each case, the Board of Approval for SEZs has granted approval for extension of validity of approval in the case of several developers for the execution of their projects," he said.

Replying to an another question, he said that exports from these tax free zones stood at Rs 2.46 lakh crore during April- September this fiscal.

In 2012-13, it was Rs 4.76 lakh crore, which is about 30 per cent of the country's total exports.

Out of the total 175 SEZs which are operations till date, a maximum of 40 are present in Andhra Pradesh followed by Tamil Nadu (34), Karnatka (22) and Maharashtra (20).