SEZ Board of Approval to meet on Aug 8
The Board of Approval for Special Economic Zones will meet on August 8 to consider more SEZ proposals, a top government official said on Friday.
By PTI |
NEW DELHI: The Board of Approval for Special Economic Zones will meet on August 8 to consider more SEZ proposals, a top government official said on Friday.
The Board, which is the single window mechanism for clearing SEZs would consider proposals submitted by July 15, G K Pillai, Special Secretary in the Commerce Ministry, said.
This would be only the third meeting of the Board after the enactment of the SEZ Act early this year. The Board has so far approved more than 150 proposals for setting up Special Economic Zones entailing an estimated investment of more than Rs 1,00,000 crore.
Corporate giants such as Reliance Industries, Reliance Energy, Infosys, Wipro, TCS, DLF, Satyam Computers, Adani Exports and Essar are among the companies that are setting up such zones across the country.
Although the Board has approved more than 150 proposals, it has notified only seven projects so far. As per rules, the Board has to notify each SEZ separately for it to get tax benefits. Pillai said the main reason for this was that most of the companies were yet to arrange adequate land for setting up the SEZ.
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