Sikkim's Dept of IT gets in-principle nod from com min to set up SEZ

The commerce ministry has given in-principle approval to the Sikkim government's proposal for setting up a new special economic zone in Sikkim with an investment of around Rs 43 crore. Sikkim's department of information technology has proposed to set up the special economic zone (SEZ).

The commerce ministry has given in-principle approval to the Sikkim government's proposal for setting up a new special economic zone in Sikkim with an investment of around Rs 43 crore. The nod was given by the highest decision-making body for SEZs - Board of Approval - in its meeting on July 31.

"The board, after deliberations, decided to grant in-principle approval to the developer," according to the minutes of the meeting of the board. Sikkim's department of information technology has proposed to set up the special economic zone (SEZ). The department has proposed to set up an IT/ITES SEZ at Namli, East Sikkim over an area of 6.82 hectares.

The inter-ministerial Board of Approval (BoA) is chaired by Commerce Secretary Anup Wadhawan. Further, the BoA also approved a proposal of HBS Auto and ANC SEZ Pvt for further extension of the validity period of formal approval granted for setting up a zone in Gujarat.

SEZs are developed as export hubs, which enjoy certain benefits. As many as 240 such zones are operational. Exports from these zones stood at Rs 7.87 lakh crore last fiscal as against Rs 7.01 lakh crore in 2018-19..