NEW DELHI: L-G VK Saxena has approved setting up of a Special Economic Zone (SEZ) and Free Trade Zone (FTZ) at the aerocity spread over five acres, Raj Niwas officials said on Friday.
The SEZ is expected to create economic endeavors, facilitating exports, warehousing, trading, and associated services within the airport premises, they added.
According to officials, the move is aimed to reduce procedural complexities, simplifying applications, licensing, clearances, and regulatory procedures. Additionally, it is anticipated to offer tax incentives to entrepreneurs, fostering a conducive environment for business growth.
It will also boost the logistics sector and catalyse economic growth apart from generating employment, they added.
The move was proposed by the Delhi International Airport Limited (DIAL), the operator of the IGIA.
“The Ministry of Civil Aviation, GoI has identified Delhi as a Pilot Air Cargo Hub which requires Tier 1, 2 and 3 level infrastructure while DIAL already has developed Tier 1 and 2 infrastructure by way of developing two cargo terminals and logistics centres at the Airport, it will achieve Tier 3 once an SEZ / FTZ comes up at the Airport complex,” a statement from the L-G House said.
“DIAL proposed the setting up of two Multi Product SEZs at the IGI Airport over an area of 5 acres and requested for Delhi Government’s recommendation under SEZ Rules, 2006. Thereafter, the Industries Department, GNCTD sought clearance of DDA in the matter,” the statement read.
Since development of Delhi as per Master Plan of Delhi (MPD) comes under the purview of the DDA, Industries Department sought inputs on the proposal from the agency on whether the development of such an infrastructure at the Delhi Airport is permitted.