Govt gives more time to SEZ developers for project execution
29/08/2016 00:05
The Indian Government has said that it has given more time to seven SEZ developers and units including Kerala State IT Infrastructure and Telangana State Industrial Infrastructure Corporation to execute their projects. The decision was taken by the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia in its meeting on August 12. The BoA is a 19-member inter-ministerial body that deals with SEZ-related matters. It provides single window clearance mechanism to developers and units in these zones. As pr reports, the board has granted one more year to Kerala State IT Infrastructure, which is setting up IT/ITeS SEZ in the state. SEZs are exports hubs, which contribute about 16 per cent to the country's total outbound shipments. As per reports, the Commerce Ministry is taking steps to revive investors' interest in these zones. It has asked the Finance Ministry to extend sops like rollback or reduction in the minimum alternate tax.
