Delhi government to call for global RFPs for two SEZs in Delhi

Pursuant to two Special Economic Zones (SEZs) planned to be set up in Delhi, the Delhi government is proposing to come out with a global request for proposal (RFP) in about a week, to attract investment into the two SEZs, as reported in a leading media. One SEZ is proposed for the Gems and Jewellery sector and the second for IT and IT-enabled services, both of which are to be developed by DSIIDC at a total investment of around Rs 700 crore, reports add.

The Delhi government has attained necessary approvals from the Centre, and the Environment Ministry, and land has already been transferred to DSIIDC -the government's infrastructure development agency. DSIIDC will be a 26 per cent equity stake holder in both the SEZs, as reported in the media.

The Gems and Jewellery SEZ is planned over 41.4 acres of land at Baprola village, offering facilities for identification, grading and certification of diamond and also a world-class Gems and Jewellery Training Institute. The SEZ for IT and IT-enabled services is proposed over 26 acres of land in south Delhi.

The Central Government’s SEZ Act states that units within the two SEZs will be eligible to 100 per cent tax exemption on income for the first five years, followed by 50 per cent during the next five years, reports say.