Hit by the economic slowdown that has impacted real estate and information technology sector, Ansal API has deferred its plans to set up information technology SEZ (special economic zones) in Greater Noida and Gurgaon till the elections are over, the company’s promoter said on Wednesday.
“Our SEZ plans are going slow. We have not got a license for the Gurgaon land and for the other we have not started the construction yet,” said Pranav Ansal, vice chairman and managing director, Ansal API. “The IT sector has also been impacted by the slowdown and we will wait for the elections to get over to get a clearer idea of the new government and its policies.”
The company may even consider setting up a non-IT SEZ on the land. “We might consider setting up non IT or develop a commercial area on the land,” he said.