Govt approves TCS, DLF proposals to set up SEZs

By: |
March 6, 2020 2:51 PM

SEZs are major export hubs in the country as the government provides several incentives and single-window clearance system.

tcs, sezTCS has proposed to set up an IT/ITeS SEZ in Noida, Uttar Pradesh, on 19.9 hectares land.

The government has approved the proposals of software firm TCS and realty major DLF to set up special economic zones (SEZs) for IT sector in Haryana and Uttar Pradesh.

The approval was given by the Board of Approval, the highest decision-making body for SEZs, in its meeting on February 26 here. The inter-ministerial body is chaired by the commerce secretary.

TCS has proposed to set up an IT/ITeS SEZ in Noida, Uttar Pradesh, on 19.9 hectares land. The total proposed investment for the project is Rs 2,433.72 crore.

“The board, after deliberations, approved the proposal for setting up of sector specific SEZ for IT/ITeS at Noida over an area of 19.9 hectare,” according to the minutes of the board meeting.

Similarly, the two proposals of DLF also received nod from the board.

DLF has proposed to set up two SEZs in Haryana. The proposed investments for these projects are Rs 793.95 crore and Rs 761.54 crore.

However, the board said that the approval for DLF is “subject to the condition that the letter of approval for setting up of units would be issued only after the requirement of contiguity of the SEZ is fulfilled by the developer as per the relevant rules and instructions”

SEZs are major export hubs in the country as the government provides several incentives and single-window clearance system.

As on November 14, 2019, the government has approved 417 such zones in the country. Out of this, 238 zones are operational.

Exports from these zones grew by about 14.5 per cent to Rs 3.82 lakh crore in April-September 2019-20. It was Rs 7.02 lakh crore in entire 2018-19 financial year.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Amazon, Samara Capital push Rs 275 cr into supermarket chain MORE’s parent as retail space heats up
2IPL 2020: Where to watch IPL matches online and all you need to know
3Emami’s e-commerce business grows 108% so far in FY21