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Mumbai, Jan 7

Modern India Free Trade Warehousing Pvt Ltd., a subsidiary of Modern India Ltd., has received the ‘in-principle approval’ from the Central Government for its proposed Free Trade Warehousing Zone at Panvel, near here. The zone is to come up on a 40.47 hectare site. Mr Vijay Kumar Jatia, Chairman and Managing Director of Modern India, said the Board of Approval for SEZs of the Commerce Ministry took up 38 proposals and cleared 22. According to a letter from the C ommerce Ministry, the total investment in 271 notified SEZs had touched Rs 83,450 crore and provided direct employment to 1,13,426 persons, said Mr Jatia, adding that Modern India’s warehousing zone would have all modern amenities to facilitate efficient handling, storage and removal of in-bound and out-bound cargo.

– Our Bureau

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