Union Government gives permission to 6 new SEZ proposals [ Current News (Concise) ]

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About 6 new SEZ proposals: In Lucknow - Uttar Pradesh, HCL IT City will set up IT / ITeS zones. In Mumbai - Maharashtra, Loma IT Park Developer will set up IT / ITeS zones. North Mumbai International Commodity Township planned free trade warehousing zone in Thane, Maharashtra.

  • SEZs account will be of 25 percent of the India’s total exports.
  • In 2013 - 14, exports from these zones had rose to 4.94 lakh crore rupees while in 2005 - 06, it was 22, 840 crore rupees.
  • Earlier, formal approval has come for 416 proposals, of which 330 SEZs have been notified.
  • As many as 36 such zones are operational in Tamil Nadu, Karnataka, in Telangana 26 and in Maharashtra 25.

About permission from Union Government:

  • Union Government has approved six new Special Economic Zones proposals including four from Information Technology and IT enabled Service (ITeS) sector.
  • The Board of Approval (BoA) chaired by Commerce Secretary Rita Teaotia had taken this decision for SEZ under the support of Union Commerce Ministry.
  • The BoA has also approved the cancellation of three SEZ developers including Emmer MGF Land and Hindustan Newsprint.

- Published/Last Modified on: August 31, 2015