Latest News | Sikkim's Dept of IT Proposes To set Up SEZ, BoA to Consider Proposal on July 31
Get latest articles and stories on Latest News at LatestLY. The highest decision-making body for SEZs will on July 31 consider a proposal for setting up a new special economic zone in Sikkim with an investment of around Rs 43 crore.
New Delhi, Jul 27 (PTI) The highest decision-making body for SEZs will on July 31 consider a proposal for setting up a new special economic zone in Sikkim with an investment of around Rs 43 crore.
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Sikkim's department of information technology has proposed to set up the SEZ.
Inter-ministerial body Board of Approval (BoA), chaired by Commerce Secretary Anup Wadhawan, will take up this proposal for consideration in a meeting on July 31, according to BoA's agenda.
BoA is the highest decision-making authority for special economic zones (SEZs).
"The Department of Information Technology, Government of Sikkim has submitted a proposal for setting up of an IT/ITES SEZ at Namli, East Sikkim over an area of 6.82 Hectares," it said.
The department, which is the developer of this SEZ, has directly requested the Ministry of Home Affairs for providing National Security Clearance.
"DC (Development Commissioner), Falta SEZ has recommended the proposal for consideration of the BoA. In view of the facts and position, the proposal is submitted for consideration of the Board for in-principle approval in terms of...the SEZ Rules, 2006," it said.
Further, the BoA would also consider a proposal of HBS Auto and ANC SEZ Pvt for further extension of the validity period of formal approval granted for setting up a zone in Gujarat.
"The developer was granted eight extensions. Last extension validity period was extended till June 16 this year. The developer has requested for further extension in validity for one year ," the agenda said.
SEZs are developed as export hubs, which enjoy certain benefits. As many as 240 such zones are operational. Exports from these zones stood at Rs 7.87 lakh crore last fiscal as against Rs 7.01 lakh crore in 2018-19.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)