Union Government gives nod to 6 new SEZ proposals

Union Government has approved six new proposals 6 Special Economic Zones (SEZs) proposals including four from Information Technology and IT enabled Service (ITeS) sector.

This decision was taken by the Board of Approval (BoA) for SEZ (under the aegis of Union Commerce Ministry) chaired by Commerce Secretary Rita Teaotia.

The approved SEZ proposals are

  • HCL IT City Lucknow- set up IT/ITeS zones in Lucknow, Uttar Pradesh.
  • Loma IT Park Developer- set up IT/ITeS zones in Mumbai, Maharashtra.
  • North Mumbai International Commodity Township- It is proposed free trade warehousing zone in Thane, Maharashtra.

It should be noted that SEZs account for about 25 per cent of the India’s total exports. In 2013-14, exports from these zones had rose to 4.94 lakh crore rupees from 22,840 crore rupees in 2005-06.

There are 330 notified SEZs across the country of which 36 are operational in Tamil Nadu, followed by Karnataka, Telangana having 26 each and Maharashtra having 25.

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Categories: Business & Economy Current Affairs 2017

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