Govt approves AIGP Developers' proposal to set up IT SEZ in Maharashtra

The government has approved AIGP Developers (Pune) to set up IT/ITeS special economic zone in Maharashtra over an area of 6.69 hectares.

The decision in this regard was taken during the meeting of the board on September 12 here, an official said.

"The board, chaired by the commerce secretary, after deliberations approved the proposal of AIGP Developers (Pune)," the official added.

The board also gave more time to seven units, including Q3 Infotech, JBF Petrochemicals and temple Packaging to complete their projects.

The commerce ministry is taking steps to revive investors interest in these zones.

A group set up by the commerce ministry to study SEZ policy will make suggestions for shifting from fiscal support to employment-based incentives and introducing grandfathering clause for existing provisions.

SEZs have emerged as major export hubs in the country as the government provides several incentives, including tax benefits and single window clearance system.

The developers and units of these zones enjoy certain fiscal and non-fiscal incentives such as no licence requirement for import, full freedom for subcontracting and no routine examination by customs authorities of export/import cargo. They also enjoy direct and indirect tax benefits.

Exports from special economic zones grew by about 15 per cent to Rs 5.52 lakh crore in 2017-18.