Govt approves 576 SEZ proposals so far
In addition to seven Central Government Special Economic Zones (SEZs) and 12 State/Private Sector SEZs set up prior to the enactment of SEZ Act, 2005, formal approval has been accorded to 576 proposals out of which 358 SEZs have been notified, the government said. A total of 114 SEZs are already exporting, it added.
As on 30th June, 2010, an investment of Rs1,66,526 crore has been made in SEZs, and direct employment for 5,50,323 persons have been generated. “The total physical Exports of Rs2,20,711.39 crore have been made from SEZs during the year 2009-10, registering a growth of about 121.40% over the exports for the previous financial year. The exports in the first quarter of financial year 2010-11, has been to the tune of Rs58,685.46 crore, registering a growth of 68% over the exports of corresponding period of the previous financial year,” Jyotiraditya Scindia, Minister of State for Commerce and Industry, said in a written reply to the Parliament.
In terms of Rule 6 of the SEZ Rules, 2006, government informed, validity of approval is for a period of three years within which time effective steps are to be taken by the developer to implement the approved proposal. On a request received from the developer, the Board of Approval can extend the validity period, it added.
Government said that the requests for de-notification of 18 SEZs by the developers have been approved by the Board of Approval.