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TCS To Setup SEZ (Special Economic Zone) At Indore

The inter-ministerial Board of Approval for Special Economic Zones allowed Tata Consultancy Services (TCS), an IT software major to set up IT/ITeS SEZ (Special Economic Zone) at Indore, Madhya Pradesh. Earlier, Videocon Realty & Infrastructure Ltd was also permitted to withdraw its proposal of 10 hectare – IT/ITeS SEZ at Jalpaiguri in West Bengal.

TCS Indore SEZ

TCS Indore SEZ

The Board also agreed with the de-notification of the proposal of 11-hectare IT/ITeS SEZ of Larsen & Toubro Ltd’s at Coimbatore, Tamil Nadu. Due to the imposition of Minimum Alternate Tax and Dividend Distribution Tax made investors lose interest in SEZs.

An agreement was made between TCS and the State Government that TCS should provide jobs to at least 10,000 local engineers for providing land at subsidized rates to the company. Planning has been made to make this project operational by 2013. Once it is done, it can provide employment to 25,000 people directly or indirectly.

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