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Project execution time for 307 SEZ developers extended
SME News, Monday, Nov 26, 2012 17:22:27 PM IST
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NEW DELHI: The government has extended the project execution time for 307 SEZ developers, as per the information revealed by Minister of State for Commerce and Industry D Purandeswari in the Parliament.
The developers have given various reasons for the extension, like adverse business climate due to global recession, delay in approvals from statutory state government bodies, delay in environmental clearances and unstable fiscal incentive regime, Purandeswari said in a written reply to the Lok Sabha.
“307 developers have been granted extension of validity period of the letters of approval granted to them for extension of their projects,” she said.
From Andra Pradesh, 56 developers of special economic zones (SEZs) have got more time to execute their projects, followed by Maharashtra (53), Tamil Nadu (37), Haryana (35), Karnatka (26), Gujarat (22), Kerala (16) and Uttar Pradesh (13).
The exports from these tax-free enclaves increased by 36 per cent to Rs 2.39 lakh crore during the April-September quarter of this fiscal as compared to the same period last year.
So far, 385 SEZs have been notified and 160 SEZs are in operation, out of which 17 are multi-product SEZs, remaining are IT/ITeS, engineering, electronic hardware, textiles, biotechnology, gem & jewellery and other sector specific.
