Government gives more time to 15 SEZ developers, units to complete projects
The government has granted more time to as many as 15 special economic zonedevelopers and units, including HBS Pharma, Electronics Corporation of Tamil Nadu and DLF Info Park, to execute their projects.
The decision was taken by the Board of Approval, chaired by Commerce Secretary Rita Teaotia, at its meeting on June 19.
The board is the highest decision making body related to special economic zones (SEZs).
Similarly, the board also gave one more year till May 2019 to five projects of Electronics Corporation of Tamil Nadu in different states including Kerala.
“The board after deliberations extended the validity of the formal approval,” the minutes of the BoA meeting said.
Tech Mahindra (Unit IV) in the Noida SEZ wants extension of validity period of its letter of permission (LoP) beyond April.
“The board, after deliberations, approved extension of the validity of the LoP up to September. The board also directed Development Commissioner NSEZ to issue show cause notice to the unit for non-utilisation of almost two-third of the land available with the unit,” it said.
The other units which got extension include APPL Industries and Camlin Fine Sciences.
SEZs have emerged as a major export hubs of the country. Setting up of new zones and timely operations of existing units will help in promoting exports from the country.
The commerce ministry is taking steps to promote these zones. It has set up a high level group to suggest changes in the policy.
Exports from SEZs grew by about 15 per cent to Rs 5.52 lakh crore in 2017-18.