Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought more time from the Board of Approval, which is meeting in New Delhi on June 2.
More than Indian exporters, it is Indian business families based in Sri Lanka and Hong Kong which have exploited the Bangladesh advantage
Rajasthan's chief minister Vasundhara Raje on Wednesday laid the foundation stone for setting up an IT/ITES SEZ by Somani Worsted Ltd and manufacturing facilities of Jaquar Ltd and Orient Craft Ltd in Bhiwadi. Digamber Singh, Rajasthan's minister of industries, was also present on the occasion.
With the export market losing its sheen, a growing number of apparel exporters are drawing up strategies to sell their wares in the domestic market. Analysts said that the higher local demand for branded apparel was because of rising purchasing power of consumers who were now spending 6-7 per cent of their disposable income on ready-made garments. The surge in consumer spending has resulted in a 20 per cent growth in demand for international apparel.
Orient Craft Ltd, one of India's largest garment and apparel exporters, plans to to raise between Rs 250-350 crore (Rs 2.5-3.5 billion) from the capital markets in the first half of 2007, to fund its proposed expansion drive.
American media has taken a critical view of his accomplishments, saying his flagship 'Make in India' drive is "so far mostly hype."
She added 148 workers from Maruti Suzuki had been imprisoned for two years without bail, on charges of killing a plant manager.
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