Since the SEZ Act was notified in February 2006, 22 SEZs have been up and running. In the last financial year (2006-07), these SEZs collectively exported goods worth Rs 33,000 crore (Rs 330 billion) , roughly 6 per cent of India's total exports of Rs 5,71,641 crore (Rs 5716.41 billion). Officials also pointed out that 52,000 people have found employment in the new SEZs set up after 2005.
The finance ministry had strongly opposed the hike announced by the commerce ministry.
Even as India and China give final touches to a joint study group report on enhancing trade ties, the domestic industry, especially the electronics sector, is facing an unprecedented threat from Chinese imports.
India and Australia are soon likely to initiate talks for a free trade agreement.
The highlights of the export package was the increase of drawback rates by an average 2 percentage to 3 percentage points with retrospective effect from April 1.
Even as the SEZ Board of Approval meeting, held in New Delhi on Thursday, deferred taking a decision on Essar's request to link its steel-based zone at Hazira
There was a time when the footwear exporters of Agra used to rue the fact that their export market was predominantly Europe where they could tot up only modest gains.
FIPB split over Bates' Sercon stake buy. Ravi Shastri's firm alleges violation of Press Note 1.
The commerce ministry had, in March, put on hold this change in the SEZ rules.
In a move that is likely to boost border trade between India and China, the commerce ministry is considering to expand the number of items traded through Nathu La in Sikkim.
Developers will soon be allowed to transfer used plant and machinery of up to 20 per cent of their total capital goods requirement to special economic zones they set up.
The European Union may back off from its insistence on including non-trade issues like human rights in the proposed free trade pact with India.
Anand Khushwaha, a small Delhi-based exporter of imitation jewellry, has been inundated by e-mails from his customers in the United States and Europe.
Environmental and social activist groups in the country have expressed concern that Japan may dump toxic wastes into India by taking advantage of the proposed comprehensive economic partnership agreement.
Data show leather got just 0.12% of the total FDI inflows during August 1991-March 2007.
Negotiations for the proposed free trade agreement (FTA) covering goods, services and investments between India and Thailand, which were supposed to conclude by this month-end, are likely to go on till October.
Talks are also on with YES Bank for three other zones, in which the ministry hopes to attract private investment.
The onus to provide proof that the new project would not jeopardise the interests of the existing joint venture lies equally with the foreign investor and the Indian partner.
The developers of special economic zones may not get tax benefits for the money spent on meeting the contiguity norms.
With the opening up of the US and Japanese markets, the Indian mango industry expects Australia and New Zealand, the only two countries which still ban the fruit, to lift import restrictions soon.
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