The Government has approved six proposals from four developers to set up new special economic zones (SEZs) across three States in areas such as IT and biotechnology. The decision was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its November 9 meeting, an official said.
The developers who got nod for new zones include Vaxenic India, EON Kharadi Infrastructure and KRC Infrastructure. GAR Corporation has proposed to set up two IT/ITeS zones in Telangana, while Vaxenic India wants to set up biotechnology and bio pharmaceuticals SEZ in the State.
SEZs are export hubs, which contribute about 23 per cent in the Country's total outbound shipments.
Exports from special economic zones logged a marginal growth of 0.77% to Rs 4.67 lakh crore in 2015-16. The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15.
As per the Commerce Ministry's data, as on March 31, these zones had attracted investments worth Rs 3.76 lakh crore.
Original Source: dailyshippingtimes.com
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