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TCS, DLF Seek Government NOD to Setup SEZs

Picture Source: Internet

TCS is the software firm and DLF have sought government nod to set up special economic zones (SEZ) for IT sector in Haryana and Uttar Pradesh. These proposals will be taken up approval by the Board in its meeting on 26 February.  TCS has proposed to setup IT/ITeS SEZ at Noida in Uttar Pradesh in area of 19.9 hectares, according to the agenda of the board meeting. The investment for the project is Rs 2,433.72 crore. Development Commissioner of Noida SEZ has recommended the proposal for grant of formal approval for setting up the zone. Moreover, DLF has proposed to set up two SEZs in Haryana. The investment which has proposed is Rs 793.95 crore and Rs 761.54 crore. The request of two companies have been placed before approval of the board for consideration, it said.  SEZs are major export hubs in the country as the government provides several incentives and single-window clearance system. As on November 14, 2019, the government has approved 417 such zones in the country. Out of this, 238 zones are operational.
Read EquityPandit’s  TCS Outlook for the Week
In April-September 2019-20, export from these zones grew by about 14.5 per cent to Rs 3.82 lakh crore and now it was Rs 7.02 lakh crore in the financial year 2018-19

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