Eight developers to surrender SEZs, 13 asks for more time

Aug 25 2013, 14:20 IST
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SummaryAs many as 8 SEZ developers have approached the government to surrender their projects, while 13 players have sought more time to execute their plans despite the Centre's recent incentive package to revive investor sentiment for such zones.

besides overall decline in manufacturing and exports. The falling rupee is also not helping SEZ exporters. The government should look at MAT issue," Director in Raheja Developers Ltd Manoj Goyal said. The firm operates an IT/ITeS SEZ in Gurgaon.

As many as 58 SEZ developers have surrendered projects due to various reasons till 31 July. Exports from SEZs grew by about 31 per cent to Rs 4.76 lakh crore during 2012-13.

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