Five developers seek government nod to set up new SEZs

Vaxenic India plans to establish biotechnology and biopharmaceuticals SEZ at an area of 11.47 hectares in Telangana

Five developers, including KRC Infrastructure and Projects, and GAR Corporation, have sought the government’s approval to set up new special economic zones (SEZs).

These applications will be considered at the meeting of the Board of Approval, headed by Commerce Secretary Rita Teaotia, on November 3.

KRC Infrastructure and Projects, and Gera Developments have planned to jointly set up an IT/ITeS SEZ in Pune, over an area of 4.03 hectares.

The BoA meeting agenda said, “A joint developer SEZ proposal has come for the first time. However, there is no guideline as to how it would be operational. Hence it has been submitted to the Board for consideration.”

GAR Corporation, too, has proposed to set up two similar SEZs in Telangana. EON Kharadi Infrastructure has also sought a nod for its IT/ITeS zone in Pune.

On the other hand, Vaxenic India plans to set up a biotechnology and biopharmaceuticals SEZ over an area of 11.47 hectares in Telangana. Phoenix Embassy Tech Zone, too, has proposed two IT sector zones in Telangana.

Further, the Board will also consider Balaji Infra Projects’ proposal, which has sought permission to surrender its multi-product zone in Raigad. “The developer has not shown adequate interest in implementation of the SEZ, even after being given appropriate opportunities. Development Commissioner SEEPZ (Santacruz Electronics Export Processing Zone) has proposed for cancellation of formal approval,” the agenda said.

Exports from SEZs logged a marginal growth of 0.77 per cent to Rs 4.67 lakh crore in 2015-16. The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15.

Acoording to the commerce ministry’s data, as on March 31, these zones have attracted investments worth Rs 3.76 lakh crore and has generated employment to 1.6 million people.

The highest number of SEZs are operational in states such as Tamil Nadu, Karnataka, Telangana and Maharashtra.