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of <h1>Developers Seek SEZ Approval: Central Government Must Decide Within 30 Days, Validity Periods Set</h1> The statutory provision outlines the procedure for granting approval to developers establishing Special Economic Zones (SEZs). The Central Government must issue formal or in-principle approvals within 30 days, specifying conditions. Formal approvals are valid for three years, requiring at least one unit to commence production, while in-principle approvals are valid for one year. The Board may extend approval validity periods upon written application, with recommendations from the Development Commissioner.
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