Tuesday, January 11 2005 15:00 Hrs (IST) - World Time -

Bangalore: IT major Wipro intends to establish a software economic zone in Kolkata, according to a top Government official.

Commerce Secretary S N Menon said at Coffee Export Awards ceremony in Bangalore, the Ministry has given in-principle approval to Wipro's proposal.

He said he does not know details regarding the Bangalore-based, New York Stock Exchange-listed company's proposed investment in the zone.

Speaking in general, he said the Commerce Ministry has given in-principle approval for setting up of a total of 38 Special Economic Zones (SEZ) in the country.

SEZ legislation is expected to be in place within the next few weeks, he added.

Stating that SEZs would attract substantial investment and also create world-class infrastructure, Menon said SEZs would not be Government of India-driven; it would be largely taken up by the private sector and the States jointly. Centre would play the role of a facilitator.

According to him, the proposed creation of SEZs in the country is based on studies, and the Government believes that Chinese experiment in the matter of SEZs cannot be duplicated in India.