Govt to consider fresh SEZ proposals on Sep 30

Last Updated: Friday, August 28, 2009 - 17:05

New Delhi: The Board of Approval, the
apex body which clears Special Economic Zone projects, will
meet next month to approve fresh proposals.

"The Board of Approval chaired by Commerce Secretary
Rahul Khullar will take up fresh proposals for setting up SEZs
on September 30," a senior Commerce Ministry official said.

Senior officials from different ministries, including
Finance, Home Affairs and Defence, would be attending the
meeting, the official said.

The last BOA held on August 11 had allowed Maytas
Ventures, promoted by the disgraced former Satyam Chairman B
Ramalinga Raju`s son, to surrender its biotech SEZ and
approved three new proposals, including that of Brooke Bond
Real Estates IT/ITES tax-free enclave in Karnataka.

Exports worth Rs 99,689 crore were made from SEZs during
2008-09, a growth of about 50 per cent over the previous year.

Exports in the first quarter of this fiscal was about Rs
39,411 crore.

The government expects the exports to touch Rs 1,10,000
crore in the current fiscal. So far, 577 formal approvals have been given for setting
up SEZs, of which about 325 have been notified.

The tax-free enclaves have attracted foreign direct
investment of over Rs 10,900 crore in the last three years.

Bureau Report

First Published: Friday, August 28, 2009 - 17:05

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