Home >Companies >News >TCS proposed to set up an SEZ in Noida
SEZs are major export hubs in the country as the government provides several incentives and single-window clearance system.. Photo: Bloomberg
SEZs are major export hubs in the country as the government provides several incentives and single-window clearance system.. Photo: Bloomberg

TCS proposed to set up an SEZ in Noida

  • The approval was given by the Board of Approval, the highest decision-making body for SEZs, in its meeting on February 26 here
  • TCS has proposed to set up an IT/ITeS SEZ in Noida, Uttar Pradesh, on 19.9 hectares land

NEW DELHI : The government has approved the proposals of software firm TCS and realty major DLF to set up special economic zones (SEZs) for IT sector in Haryana and Uttar Pradesh.

The approval was given by the Board of Approval, the highest decision-making body for SEZs, in its meeting on February 26 here. The inter-ministerial body is chaired by the commerce secretary.

TCS has proposed to set up an IT/ITeS SEZ in Noida, Uttar Pradesh, on 19.9 hectares land. The total proposed investment for the project is 2,433.72 crore.

"The board, after deliberations, approved the proposal for setting up of sector specific SEZ for IT/ITeS at Noida over an area of 19.9 hectare," according to the minutes of the board meeting.

Similarly, the two proposals of DLF also received nod from the board.

DLF has proposed to set up two SEZs in Haryana. The proposed investments for these projects are 793.95 crore and 761.54 crore.

However, the board said that the approval for DLF is "subject to the condition that the letter of approval for setting up of units would be issued only after the requirement of contiguity of the SEZ is fulfilled by the developer as per the relevant rules and instructions"

SEZs are major export hubs in the country as the government provides several incentives and single-window clearance system.

As on November 14, 2019, the government has approved 417 such zones in the country. Out of this, 238 zones are operational.

Exports from these zones grew by about 14.5 per cent to 3.82 lakh crore in April-September 2019-20. It was 7.02 lakh crore in entire 2018-19 financial year.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
x
×
My Reads Redeem a Gift Card Logout