Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,921.50-96.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Government to consider TCS, Infosys proposals to set up SEZ on November 15

Infosys has proposed to set up two SEZs - one each in Kancheepuram and Pune. The total proposed investment for Pune project is Rs 361.53 crore, while it is Rs 336 crore for the Kancheepuram project. Infosys has sought formal approval for setting u...

PTI|
Nov 12, 2019, 04.37 PM IST
0Comments
Getty Images
IT
SEZs are demanding support, including removal of minimum alternate tax, from the government with a view to boost outbound shipments from these zones.
NEW DELHI: The government will consider on Friday the proposals of TCS and Infosys to set up special economic zones (SEZ) in IT sector.

The proposals will be taken up by the Board of Approval, the highest decision making body for SEZ, in its meeting on November 15. The inter ministerial body is chaired by the Commerce Secretary.

Infosys has proposed to set up two SEZs -- one each in Kancheepuram and Pune -- according to the agenda paper of the board meeting.

The total proposed investment for Pune project is Rs 361.53 crore, while it is Rs 336 crore for the Kancheepuram project.

Infosys has sought formal approval for setting up a sector specific SEZ for IT/ITeS at Kancheepuram district in Tamil Nadu over an area of 5.37 hectares.

The Pune project is proposed at 10 hectares of land.

According to the agenda paper, Tata Consultancy Services Ltd has sought formal approval from the government to set up IT/ITeS zone in Tamil Nadu.

"TCS Ltd has proposed to invest Rs 900 crore in this zone and provide employment to about 12,000 persons," it said.

The company has requested to allow for setting up of unit with an initial development centre and start the business operations before the deadline of March 31, 2020.

All these three proposals are placed before the board for their consideration, it added.

Further, the Tripura Industrial Development Centre too has sought approval for setting up SEZ for agro-based food processing sector over an area of 16.35 hectares in the state.

The estimated investment for the project is Rs 1,550 crore.

SEZs are demanding support, including removal of minimum alternate tax, from the government with a view to boost outbound shipments from these zones.

SEZs are major export hubs in the country as the government provides several incentives and single-window clearance system.

Exports from these zones stood at over Rs 7 lakh crore in 2018-19.

Also Read

Talks on to extend SEZ sunset clause

New SEZ investments made attractive

Tripura gets its first-ever SEZ

Many units in Nokia Telecom SEZ may reopen by March 2020

ONGC wants to take Opal out of SEZ as domestic demand grows

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service