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Govt to consider 17 new SEZ proposals tomorrow

Source: PTI
Last updated on: June 01, 2009 16:02 IST
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The government will consider on Tuesday proposals for setting up 17 special economic zones, including those of Larsen and Toubro, Emaar MGF and Gulf Oil Corporation.

The board of approval, headed by commerce secretary G K Pillai, will also consider requests from realty major DLF for de-notification of its IT-ITeS SEZs in Gujarat, Haryana, West Bengal and Orissa.

"The developer (DLF) has requested for de-notification . . . due to slowdown in the economy and liquidity crunch in the overall industry," the agenda document of the meeting said.

Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought time from the BoA, which is meeting in New Delhi on June 2.

Larsen and Toubro has proposed to set up an IT SEZ in Mumbai, while Gulf Oil Corporation has moved application for a similar tax-free zone in Bangalore.

Other proposals for new SEZs include Emaar MGF's IT-related SEZ in Kerala.

Since 2006, when the SEZ Act was notified, formal approvals have been granted for setting up 568 SEZs, of which 315 have been notified.

Exports from SEZs grew 36 per cent to Rs 90,416 crore (Rs 904.16 billion) in 2008-09 from Rs 66,638 crore (Rs 666.38 billion) in the previous fiscal.

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