On March 06, 2020, The highest decision-making body for special economic zones (SEZs) chaired by the commerce secretary Anup Wadhawan, has approved the proposals of Information technology (IT) major TCS (Tata Consultancy Services Limited) and DLF (Delhi Land and Finance) Limited a premier real estate company in India to establish a special economic zones (SEZs) for IT sector in Uttar Pradesh (UP) and Haryana respectively.Key Points:
i.TCS has proposed to establish an IT/ITeS (Information Technology Enabled Services.) SEZ in Noida, Uttar Pradesh, over an area of 19.9 hectare at a cost of Rs 2,433.72 crore.
ii.Similarly, DLF has proposed to establish two SEZs in Haryana with an investments worth of Rs 793.95 crore and Rs 761.54 crore.
iii.The central government has cleared 417 such zones in India, as on November 14, 2019.Of these, 238 zones are in active state.
These zones are located within a country’s national borders, and their aims include increased trade balance, employment, increased investment, job creation and effective administration.
In India, exports from these zones increased by about 14.5 % to Rs 3.82 lakh crore during April-September 2019-20 period as against Rs 7.02 lakh crore in whole 2018-19 financial year.
About TCS (Tata Consultancy Services Limited):
Headquarters– Mumbai, Maharashtra
Chairman– N. Chandrasekaran
About DLF (Delhi Land and Finance) Limited :
Headquarters– Gurgaon, Haryana
Chairman– Kushal Pal Singh