Withdrawal of tax benefits from special economic zones (SEZs) would adversely impact India’s exports and economic sentiments, Assocham today said. Developers have invested huge money in SEZs. If tax benefits are not given, there will be adverse impact on exports and economic sentiments, the chamber said. It said that about Rs 30,000 crore worth of exposure that banks and financial institutions have given to SEZ projects under various stages of implementation may turn into non-performing assets.
