Govt to consider 5 SEZ proposals in Mar 8 meeting

The Dollar Business Bureau

The Government of India will consider five proposals on March 8 of SEZ developers that include those of L&T Construction Equipment and Oracle India, for establishing new Special Economic Zones.

The applications for the SEZ proposals will be considered at a meeting of Board of Approval (BoA), chaired by Rita Teaotia, Secretary, Department of Commerce, Ministry of Commerce and Industry.

L&T Construction Equipment and Oracle India have put up proposals to set up IT/ITeS SEZs in the state of Karnataka. The former has put proposals for two SEZs.

Modern Asset, another developer, has also planned two IT/ITeS SEZs in Karnataka over 2.33 hectares of area.

Exports from 204 SEZs recorded a marginal growth of 0.77% to Rs.4.67 lakh crore in the financial year 2015-16. The exports from these zones were Rs.4.63 lakh crore in the previous fiscal of 2014-15.

Presently, the maximum number of SEZs are operating in the states of Karnataka, Tamil Nadu, Maharashtra and Telangana.