Govt to consider five proposals on March 8 for setting up new SEZs

NEW DELHI: The Commerce Ministry will consider five proposals of SEZ developers, including Oracle India and L&T Construction Equipment, for setting up new Special Economic Zones (SEZs) on March 8.

These applications will be considered at the meeting of the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia.

Oracle India and L&T Construction Equipment have proposed to set up IT/ITeS SEZs in Karnataka. The latter has proposed two zones.

The other developer, Modern Asset, too has planned two IT/ITeS zones in Karnataka over 2.33 hectares.

Exports from SEZs logged a marginal growth of 0.77 per cent to Rs 4.67 lakh crore in 2015-16. The exports from such 204 zones stood at Rs 4.63 lakh crore in 2014-15.

Currently, the highest number of SEZs are operational in Tamil Nadu, Karnataka, Telengana and Maharashtra.