Government approves 6 new SEZs for IT, biotech

The government has given approval to set up six new special economic zones (SEZs) across three states in sector such as IT and biotechnology. These SEZs were given approval by the Board of Approval (BoA), chaired by Commerce Secretary Rita Teaotia.The approved SEZ proposals are Vaxenic India, EON Kharadi Infrastructure and KRC Infrastructure. GAR Corporation has planned to set up two IT/ITeS zones in Telangana, while Vaxenic India wants to set up biotechnology and bio pharmaceuticals SEZ in the state. EON Kharadi Infrastructure and KRC Infrastructure too have planned to set up separate IT/ITeS special economic zones in Pune. Information Technology Park has got the approval to set up IT zone in Karnataka.It should be noted that SEZs account for about 23 per cent of the India’s total exports. During the period of 2015-16, exports from special economic zones recorded a marginal growth of 0.77 per cent to Rs 4.67 lakh crore. 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 and generated employment for 15.91 lakh people.

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