Software major Infosys has sought the Union government's approval to set up an IT special economic zone (SEZ) in West Bengal. The company's application will be considered by the inter-ministerial body, Board of Approval (BoA), headed by commerce secretary Rita Teaotia, in its meeting on August 12.
Infosys has proposed to set up IT/ITeS SEZ over an area of 20.14 hectares in South 24 Parganas, the boards' meeting agenda said. "Development Commissioner of Falta Special Economic Zone has recommended grant of in-principle approval subject to state government clearance which has been sought for from the applicant," it said.
Two more players -- Devbhumi Realtors and Phoenix Living paces -- have also sought approval from the BoA to set up It/ITeS zones in Telangana. Further, Chhindwara Plus Developers has approached the government for setting up of a multi product SEZ in Madhya Pradesh, over an area of 1,320.06 hectares. SEZs are exports hubs which contribute about 16 per cent to the country's total outbound shipments. 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.
The 19-member BoA deals with SEZ related matters. Exports from special economic zones (SEZs) logged a marginal growth of 0.77 per cent to Rs 4.67 lakh crore in 2015-16.
The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15. Highest number of SEZs are operational in states like Tamil Nadu, Karnataka, Telengana and Maharashtra.
Xiaomi recently launched its Mi Note 2 smartphone with a dual-curved display, al
Electronics major Samsung confirmed that it is working on a probable Galaxy S8 l
Apple reportedly had some sensors removed from its new smartwatch after discove
On Monday, Google?s Threat Analysis Group published details of a critical vulner
Apple CEO Tim Cook has wished peace and happiness to everyone this Diwali. This
Micromax has introduced a new service for its Canvas Unite 4 Plus smartphone, wh
Printing and personal computer major HP on Monday unveiled its next generation p
Just like computers, anti-virus apps have become almost essential for smartphone
With 8 November election day just around the corner, Facebook has introduced a n
With the PS4 Pro hitting the shelves in less than 10 days, the age of iterative