The government grants more time to 15 special economic zone developers and units, including HBS Pharma and DLF Info Park, to execute their projects
New Delhi:The government has granted more time to as many as 15 special economic zone developers and units, including HBS Pharma, Electronics Corporation of Tamil Nadu and DLF Info Park, to execute their projects.
The decision was taken by the Board of Approval, chaired by Commerce Secretary Rita Teaotia, at its meeting on June 19.
The board is the highest decision making body related to special economic zones (SEZs).
HBS Pharma SEZ has till June 2019 to complete its project in Gujarat. DLF Info Park too has till June next year for its IT/ITeS project in Maharashtra. The board also granted a year’s time till May 2019 to five projects of Electronics Corporation of Tamil Nadu in different states, including Kerala.
“The board, after deliberations, extended the validity of the formal approval," the minutes of the BoA meeting said.
Tech Mahindra (Unit IV) in the Noida SEZ wants extension of the validity period of its letter of permission (LoP) beyond April. “The board approved the extension up to September. The board also directed Development Commissioner, NSEZ, to issue show-cause notice to the unit for non-utilisation of almost two-thirds of the land available with the unit," it said.
The other units that were granted extension include APPL Industries and Camlin Fine Sciences.
SEZs have emerged as major export hubs. The commerce ministry has set up a high-level group to suggest changes in policy. Exports from SEZs grew by about 15% to ₹ 5.52 trillion in 2017-18.
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