Lieutenant Governor V K Saxena today gave the green light for the establishment of a Special Economic Zone (SEZ) and Free Trade Zone (FTZ) spanning five acres at the IGI Airport, officials have revealed.
How will this move help?
A statement from the LG office highlighted that the SEZ is expected to create economic endeavors, facilitating exports, warehousing, trading, and associated services within the airport premises.
This initiative aims to reduce procedural complexities, simplifying applications, licensing, clearances, and regulatory procedures. Additionally, it is anticipated to offer tax incentives to entrepreneurs, fostering a conducive environment for business growth.
As per the notification, this action is poised to elevate the logistics sector and ignite economic expansion, while also fueling job creation.
A statement from the LG office said, “The Ministry of Civil Aviation, GoI has identified Delhi as a Pilot Air Cargo Hub which requires Tier 1, 2 and 3 level infrastructure while DIAL already has developed Tier 1 and 2 infrastructure by way of developing two cargo terminals and logistics centres at the Airport, it will achieve Tier 3 once an SEZ / FTZ comes up at the Airport complex.”
DIAL proposed the establishment of two multi-product SEZs at the IGI Airport spanning 2.02 hectares each (5 acres) and sought the Delhi Government’s recommendation in accordance with the SEZ Rules, 2006, it added. Subsequently, the Industries Department of GNCTD sought clearance from DDA on this matter, the release added. “Since the development of Delhi as per the Master Plan of Delhi comes under the purview of DDA, the Industries Department vide its letter dated December 7, 2023, requested DDA to provide their input on whether the development of such infrastructure at the Delhi Airport is permitted as per the Master Plan 2021,” it further added.
(With Agency inputs)