August 14, 2014 9:09 AM

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Centre sets deadline for examining SEZ proposals

The Centre has prescribed a time limit for disposal of various activities related to special economic zones to ensure smooth functioning of SEZs and ease of doing business in the country.An official release said, time limit for examination of the proposals for setting up of SEZs is 15 days, while examination of the proposal for change of sector is seven days. The time limit fixed for clearing the proposal of the SEZ developers for approval of list of materials and services to carry on authorised operations is 30 days. Similarly, timeline for examination of the application for setting up of SEZ units is 15 days. This will work as a catalyst in providing good governance in the SEZs. These timelines will be strictly followed by Zonal Development Commissioners throughout the country.The main objectives of the SEZs are promotion of exports, generation of additional economic activity, promotion of investment from domestic and foreign sources, creation of employment opportunities and development of infrastructure facilities. 192 SEZs are operational in India and exports from these zones was 4.94 lakh crore rupees in the last fiscal. During the first quarter of this fiscal, exports from these zones grew by 7.36 per cent to 1.21 lakh crore rupees.

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