New Delhi, Feb 14 (IANS) The national capital will have two Special Economic Zones (SEZs) - one for gold and jewellery and the other for information technology (IT), to be set up at a cost of Rs.785 crore, an official said Sunday.

The facilities are expected to provide direct employment to 54,000 people and indirect employment to 162,000, Delhi State Industrial and Infrastructure Development Corp (DSIIDC) chairman Chetan Sanghi said in a statement.

'The central government has permitted the DSIIDC to go ahead with the projects that will approximately cost Rs.785 crore,' Sanghi added.

The proposed SEZs will be set up on over 67.4 acres in Baprola in northwest Delhi, with the gold and jewellery SEZ occupying 41.4 acres.

'The land has been transferred to the DSIIDC,' the official said.

The jewellery SEZ will have a section for identification, grading and certification of diamonds and a world-class gem and jewellery training institute.

Indian branded jewellery is growing at 40 percent per year and its expected market size would be $2.28 billion by 2010.