New SEZ land norm to help IT.

BANGALORE: The IT sector received a big boost on Thursday with the government withdrawing the minimum land area requirement for IT SEZs. Previously, an IT SEZ could be established only on land area of 10 hectares or more. This hugely restricted the ability of companies to claim SEZ benefits.

Large mandatory land requirements made it difficult for small companies to take advantage of the SEZ policy. Waiving land need and reducing minimum built-up area will make it feasible for IT SEZs to come up in smaller locations. These changes are likely to make the policy more inclusive, said Som Mittal, president of Nasscom. tnn