Govt. Grants Time Relaxation for Navi Mumbai SEZ

As the Special Economic Zone projects continue to face operational and regulatory issues in the state, the commerce ministry has decided to give more time to the SEZ developer Navi Mumbai SEZ, hat has over eight projects in its cap. The decision by the commerce ministry comes in response to the appeal by the Maharashtra government.

Earlier, the Maharashtra government had sought more time from the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, to resolve the issues faced by Navi Mumbai SEZ Ltd (NMSEZ).

NMSEZ informed the board that the proposed SEZ project is pending because the Maharashtra government failed to enact the state SEZ act.

Following which, in the absence of proper legislation, the entrepreneurs are hesitating to set up their units in the zones.

Navi Mumbai SEZ in a press interview informed that with more time in hand, the state government, City and Industrial Development Corporation (CIDCO) and NMSEZ are in the process of resolving operational and regulatory issues.