NEW DELHI, Mar 18 (PTI): In a bid to make India a global manufacturing hub, the government yesterday cleared nearly 150 Special Economic Zones (SEZs) including those of Mukesh Ambani's Reliance Group, Biocon, Bajaj Auto, Bharat Forge, DLF, Adani Group and Satyam Computers.
As part of the fast-track single window clearance, the government will issue notifications within a week for about 75 of the SEZs which were given final approval Friday. The remaining SEZs, which have been given in-principle nod, would have to complete certain formalities such as land acquisition.
Among the major SEZs given final clearance by the Board of Approval include Reliance Infrastructure Ltd's Rs 200 billion Jamnagar petrochemicals project, Adani Group's two projects totaling Rs 120 billion in Gujarat, Biocon's Rs two billion biotech project in Bangalore and Bajaj Auto's Aurangabad auto- component project.
While the IT SEZs would have to be completed within three years, the other sectoral and multi-product SEZs must be finished in five years to get tax benefits, official sources said, adding these zones are together expected to generate more than 500,000 jobs in next five years.
The Board considered 166 applications but deferred a decision on 18 major proposals, including those of IT giant Wipro in West Bengal, because of poll-time model code of conduct now in force in that state, Tamil Nadu and Kerala.
The SEZ approval also include Gujarat Industrial Development Corp's Rs 40 billion multi-product SEZ, Divi Labs' Rs 2.5 billion pharma SEZ in Vizag, Chandigarh administration's Rs one billion IT and ITES project and Maharashtra Industrial Development Corp's IT SEZ near Pune.