Wipro, an IT services providing company, plans to set up a Special Economic Zone (SEZ) in Kolkata and has applied for the government's approval. The Board of Approval, or BoA, which is an inter-ministerial body, is expected to take up Wipro's application on June 22.
"A proposal without having the state government's approval can also be taken up by the BoA. But, the state government's approval for the SEZ is a must at some point of time. In some cases, the land for an SEZ is provided by a state government. Even then, the state's approval is required," a source was quoted as saying by the Financial Express.
The West Bengal government's recommendations are currently awaited.
The software major said it plans to set up an IT SEZ over an area of about 20 hectares in the West Bengal capital, Press Trust of India reported.
Additionally, the BoA would also take up applications of other firms such as Gulf Oil Corporation, Lanco Solar and seven others. Over the last three years, the inter-ministerial body has granted time to as many as 132 SEZ developers to implement their projects across the country.
According to reports, the board had given approval to Infosys to set up an SEZ in Karnataka's Bengaluru city. In February, another IT major Cognizant had sought the government's approval to set up a special economic zone in Telangana.
Following the news, Wipro Ltd stock was trading at Rs. 551.80 at around 12.28 p.m. on Friday, up 0.35 percent from its previous close on the Bombay Stock Exchange.