Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusiness
Last Updated : Nov 13, 2019 01:42 PM IST | Source: PTI

Govt to consider TCS, Infosys proposals to set up SEZ on Nov 15

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

The government will consider on November 15 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.

Close

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.

Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Nov 12, 2019 05:11 pm
Loading...
Follow us on
Available On